Writing

Here are some of the articles and columns I’ve written that show the quality of my work.

CAPE COD — CAPE COD — Undeterred by the global pandemic, the Cape and Islands’ hotel business has returned and flourished over the past two years, and more recently through the summer and fall of 2022. As a bi-product, investors small and large spied opportunities in what had typically been a market held by local investors, taking a long-position, in an often inactive market.

The region has seen an explosion of real estate deals recently; more than $400 million in closings were recorded at the Barnstable Registry of Deeds between January 2020 and December 2022, amassing 40 property swaps in excess of 2,300 rooms – far surpassing the sales volume of pre-pandemic periods.

According to the Massachusetts Office of Travel & Tourism, the Cape has approximately 250-275 hotel and motel properties, and around 12,000 guest rooms, equating to 15 percent of the market having been turned over in under three years. The property trades do not include AirBnB, VRBO, and HomeAway accommodations, or guest houses and bed-and-breakfasts with fewer than 6 rooms. ( …more)

Freudenheim Partners Takes Long View

BOSTON — As the COVID-19 pandemic continued to wreak havoc across the country, the real estate industry has faced its own persistent problems. At Freudenheim Partners, the Boston-based commercial leasing and sales real estate firm, CEO Leigh Freudenheim and Executive Vice President Ellen (Ellie) Fantini Cullinan are taking the long view in their expectations of what may happen as we turn the calendar to 2022.

“One of the overarching things we discovered is, I think a year ago we expected there would be more certainly in the market by now,” says Freudenheim. “But what we’re learning as the pandemic persists, we’re not as confident. At this point we expected CEOs would know whether to be remote or not, but a lot of decisions have been put off; short -term decisions are made but no one has a crystal ball to know what will happen.” ( …more)

As Eviction Moratorium is Struck Down More Questions Loom For Landlords

BOSTON — After a second try to overturn a judges ruling to end the evictions moratorium that was in place for nearly two years (when added to the federal moratorium) during the pandemic, 2022 begins with a new Mayor and at least for the time being, a temporary ease for those owning and managing properties in the city of Boston.

“We knew this moratorium was unconstitutional; you have to go through the state. I was not really shocked [by the judge’s decision] … a classic appeal on the part of the city – but it’s pretty clear it’s a legislative situation,” stressed Greg Vasil, CEO and President of the Greater Boston Real Estate Board. “I think if you look at the time leading up to when [Acting Mayor] Kim Janey put the moratorium into effect, she was getting pushed back. Other communities have done this, we will too – this will buy time. … practically, it bought the city time,“ added Vasil. (…more)

After Double-Digit Vacancy Rates Greater Boston Apartments Back: Median Rents Up 23%

BOSTON — Greater Boston apartment rents have recovered completely from the dramatic drop that began during 1st-quarter 2020, a return to normalcy welcomed by multi-family property owners across the region after having suffered 18-months of uncertainty brought on by COVID-19. Still, prices are not where they could be had the pandemic never happened, and external events may end up threatening or even eliminating any near-term future gains.

These bounce-back rents are the result of lower vacancy rates, according to recently-released data from Apartment List, the online listing platform, reporting on the city of Boston and in the metropolitan Boston area, which stretches across 168 cities and towns, from Portsmouth, NH to Plymouth, MA.

Boston rents suffered more harshly by the pandemic than other major US cities when it comes to vacancy rates. (…more)

Cambridge Trade of Mayflower Poultry Co.

CAMBRIDGE — The $5-million sale of the flex/retail property at 619-629 Cambridge Street in East Cambridge to Riverside Properties passed without much ado in late May, but for long-time locals, it was notable mainly because of its distinctive tenant.

The Mayflower Poultry Co. has been located at the address since moving there from Boston’s North End in 1945. It’s become a landmark of sorts due to the prominent (some would say, startling) “Live Poultry Fresh Killed” sign that has adorned the front of the butcher shop for decades. In fact, the sign has become a brand in its own right – as the company sells its famous Yellow Chicken logo affixed to apparel, along with the “Live Poultry” tagline. (…more)

After COVID-Driven Suburban Flight, Cornerstone Capital Bullish on Boston and Multifamily

LEXINGTON — It’s a healthy business climate at Cornerstone Capital, the seasoned commercial mortgage lender located in Lexington, which specializes in structuring and sourcing financing for all property types, as well as offering 1031 exchange consulting services.

In an encouraging sign that the local commercial real estate market has returned to a sense of normalcy following 18 months of uncertainty due to the COVID-19 pandemic, the locally sourced finance company has completed a bevy of assignments of late, including recently arranging a $7.5 million loan for the acquisition of a brand-new, 33-unit apartment complex in Reading. (…more)

Eaglebrook Capital Acquires 15-Unit Mixed-Use for $5.9M

CAMBRIDGE — With plans to reposition a beautifully-pointed, brick 15-Unit mixed-use investment in cosy Inman Square, Eaglebrook Capital has acquired 1052-1060 Cambridge Street for $5,900,000. The five-story, 11,055 square foot building comprises 13 residential and two commercial units, currently occupied by a barber shop and a neighborhood dentistry. The real estate investment firm plans to reposition the asset through minor renovations and lease-up efforts with a targeted stabilization of Q4 2021.

“On existing multifamily assets we’re looking for 6-40 units and this [Cambridge property] slots nicely into that range,” according to Eaglebrook’s principal Julian Lewis. “$2-15 million is our sweet spot on acquisitions (multifamily and land). Our all-in costs on new construction developments do exceed the $15 million mark but this is the area we like to play in on the acquisitions.” (…more)

“Inflation Hedge” Retail Deal Delivers $8.3 Million for Dudley Walgreens via Horvath & Tremblay

DUDLEY — With the new COVID variant making headlines it is yet to be seen where and when the needle peeks regarding inflation and moreover the US economic recovery. As small local retailers struggle to keep doors open, some national retailers have begun to see healthy returns in certain sectors.

For big retail pharmacies, the virus news has seen their stocks rise and fall over the past month, but Wall Street still has a bullish outlook on the retail division, as do CRE investors looking to complete exchanges, evident in yet another recent local Walgreens pharmacy trade in Dudley that has sold for $8.3 million – a deal repped by Horvath & Tremblay – reflecting strength in the single-tenant marketplace and augurs another banner year for the Lynnfield-based commercial brokerage firm. (…more)

Shihadeh, Marcus & Millichap On Pace For Record Year

BOSTON — The way Regional Manager Tom Shihadeh sees it, the most recent successes that the Boston office of Marcus & Millichap (M&M) have enjoyed can be directly attributed to the hard-working team they’ve assembled since his arrival in Boston 19 months ago. “Our success is an ultimate byproduct of hard-working agents and I want to emphasize the role they’ve played in our growth,” professed Shihadeh.

It is a humbling perspective since Shihadeh’s promotion to Boston as regional manager took place in late 2019 after a massively productive stint in the Marcus & Millichap New York City office, where his former team consistently orchestrated 100 transactions for over $1B in each of the past six years. It was that rigorous success that led to his current opportunity, and a return to the region for the Pennsylvania native who graduated from Boston University less than a decade ago. (…more)

Session Touts Bright Future for Orange Line Influenced Development

BOSTON — With an audience of eager listeners leaning forward to catch every word, a group of local commercial and residential real estate experts gathered together recently to talk about the hard-earned successes they’ve had, the result of what is being called the “Orange Line Influence.”

Patrick Keefe, Vice President of Debt Capital Markets at Walker & Dunlop, moderated the discussion, which was sponsored by the Real Estate Finance Association (REFA) of the Greater Boston Real Estate Board, held at the Foundation Room at 225 Franklin Street.

Following years of focus by real estate investors and developers on the MBTA’s Red Line, they are now seeing opportunities along the Orange Line corridor. (…more)

REFA to Etch Jonathan Davis’ Name to Boston Harbor Bowl at 31st Annual Gala

BOSTON – It has been an autumn affair for the past thirty-one years, when more than 500 CRE professionals gather to honor an individual, or a team, in recognition of outstanding contributions made to the real estate industry.

On October 17th The Real Estate Finance Association will commemorate Jonathan G. Davis as its 31st-recipient of the Robert S. Swain Jr. Distinguished Service Award. Davis, CEO and founder of The Davis Companies, will be presented with the Boston Harbor Bowl at the annual Gala, held at the Westin Copley Place hotel.

Davis reflected on the award’s historical significance. (…more)

Other published works:

A Boston Transportation Christmas Wish List

Boston has a transportation problem.

Our city is home to 617,594 residents. Its population swells to over one million workers and shoppers, every weekday, including approximately 300,000 commuters, half of whom take public transportation. The other half, lamentably, drive. Meanwhile, more than 350,000 Boston residents have their own cars.

The city’s streets can’t handle this burden. Even if we continued to build new roads it wouldn’t reduce congestion or stop traffic jams. Experts believe that adding expressways, tunnels, and bridges only encourages more people to drive.

Something’s gotta give. Here are my ideas (well, very few are my ideas but are others’ that I support). (…more)

Why Does It Cost So Much to Live in Boston?

According to a recently released study from the Center for Housing Policy, 24% of Massachusetts families are spending as much as 50% of their incomes on housing. This will come as no surprise to those of us living here in Boston. Housing is expensive? This, we know. But, why does housing cost so much and, even more important, how can we fix this?

How we got here

Boston hasn’t always been a great place to live. Between the 1950’s and 1980’s, the city’s downtown neighborhoods were in decline as the middle class moved to the suburbs.

Things got worse when the busing crisis of the 1970’s led many families with kids to abandon the city. (…more)

What Will Boston Be Like in 2030? Prosperous? A Disaster Zone?

The Boston Foundation released its annual Boston Indicators report last Wednesday. Its authors examine the current state of the city, diagnose some of its problems, and lay out strategies for its future.

It’s an expansive report, full of data and analysis. Below, a summary, along with my own thoughts.

Boston innovation

The city of Boston has a lot of talent, much of it focused on the “innovation economy clusters” of higher education, financial services, and healthcare industries.

Unfortunately, the city’s health and residents’ continued prosperity are at risk, due to forces both local and worldwide.

As the world becomes increasingly flat, businesses are moving out of the state – and out of the country. So, the jobs that remain here will be for the well-educated (and highly-paid) or the unskilled (and poor). (…more)

Here are some of the articles and columns I’ve written that show the quality of my work.

Other published works:

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