Portland, ME According to Cardente Real Estate, Compass Property Management, LLC, has purchased a 4,307 s/f four-unit multifamily building at 13 Atlantic St. for $668,750.
This transaction was brokered on behalf of the seller, Scott J. Somero, by Mike Cobb of Cardente Real Estate, and on behalf of the buyer by April Nored of Laflin & Wolfington Realty.
In another transaction, A to Z Enterprises, Inc., has purchased an 11,700 s/f industrial building on 51acres at 66 Andrews Rd. in Biddeford for $450,000.
This transaction was brokered on behalf of the buyer by Mark Sandler of Cardente, and on behalf of the seller, Global Environmental Solutions, Inc., by Justin Lamontagne of NAI The Dunham Group.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.