 (1).png)
News:
Owners Developers & Managers
Posted: January 28, 2022
Zanzibar Capital acquires 56-unit portfolio in Lynn, MA for $10.07 million - consisting of 55 residential and one commercial unit
Lynn, MA Zanzibar Capital has completed the purchase of a 56-unit portfolio consisting of 55 residential and one commercial unit for $10.07 million. Stephen Girolamo of Horvath & Tremblay represented both the buyer and the seller on the deal. The properties are located at 653-655 Western Ave. and 24-30 Franklin St.
“Our latest acquisition in Lynn provides us greater scale and efficiency for our multifamily investments in the North Shore,” said Eric Doroski, managing partner and co-founder of Zanzibar Capital. “These properties have a highly desirable unit mix. We will be implementing a capital upgrade and utility efficiency plan, which will allow us to realize the full potential of this acquisition.”
Zanzibar Capital, founded in 2018 by Nitzan Mokady and Doroski, owns and actively invests in multifamily and mixed-use holdings in the Greater Boston area. Using a heavily quantitative approach, Zanzibar identifies value-add opportunities in both market-rate and low-income subsidized projects.
MORE FROM Owners Developers & Managers
Cathartes and Tidemark set to open first phase of Marlo on Mill Pond
Portsmouth, NH According to Cathartes and Tidemark, the first of new luxury waterfront apartment homes will become available this fall in the city’s West End. Located at 75, 85 and 95 Addorio Way, Marlo on Mill Pond will feature 151 studio,
Columns and Thought Leadership
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
The legislature has spoken: New Hampshire doubles down on housing in commercial zones - by John Sokul
Last year, the New Hampshire Legislature enacted HB 631, a landmark housing measure requiring municipalities to permit multifamily housing in commercially zoned districts. The law generated
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and