Portland, ME Chris Gallagher has joined The Boulos Company team. Prior to joining Boulos, Gallagher worked for more than 20 years as director of acquisitions & commercial leasing at BNS Real Estate in New York. There, he was responsible for the company’s portfolio of over 1.5 million s/f of industrial, office, retail, and residential properties in Manhattan, Brooklyn, and the Bronx.
“While Chris has worked in all aspects of the business, he brings particular depth and breadth of expertise from the owner’s perspective,” said Boulos managing director Drew Sigfridson. “We’re lucky to have him at this dynamic moment, as markets are shifting and change is everywhere.” Gallagher is the second broker from New York to join The Boulos Company in the past year, underscoring the trend away from larger metropolitan areas to smaller cities, like Portland.
“Greater Portland is a dynamic East Coast market with significant growth opportunities, and I’m incredibly excited to be working here,” said Gallagher. “With the shift toward a work-from-home culture and the growing appeal of regional hubs, Portland and the whole Maine market have become very attractive. I’m eager to help the city grow in a sustainable way. It’s also great to be back in Red Sox Nation.”
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.