In The News

New Acquisition! 120 London Street, East Boston.

Newman Properties, which purchased seven buildings in Onset back in October, has purchased two more Onset buildings, adding a total of ten new apartments to the company’s portfolio. The properties are located at 4-6 W Central Ave. and 17 Union Ave., and both were purchased directly from the seller without a broker. “We decided to add to our portfolio in this area because we felt these properties would fit in nicely with our existing portfolio in the Onset and Buzzards Bay area,” said Shoshana Baraschi-Ehrlich, the marketing coordinator for the company. In October, the company purchased seven buildings in Onset. With the addition of the two new buildings, the company now owns 68 apartments and 12 commercial rentals in Onset, and Baraschi-Ehrlich said the company will likely continue to expand its holdings in the area. Only one unit owned by the company in Onset is currently available: A small studio apartment ringing in at $1,300 per month, including utilities.

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WARWICK – A fully occupied retail center at 1191 Division St. sold recently for $5.8 million, according to city real estate records. Newman Properties, based in Brookline, Mass., through its affiliate, Atlantic Capital Retail LLC, was the buyer. Horvath and Tremblay, a commercial real estate company based in Lynnfield, Mass., represented Atlantic Capital Retail in the transaction. Financing was provided by BankFive, based in Fall River. The 8,000-square-foot retail marketplace was constructed last year and is occupied by tenants, including Starbucks, Chipotle and Orange Theory.

Warwick, RI- On February 18th Newman Properties’ affiliate Atlantic Capital Retail LLC purchased an 8,000+/- sq ft retail shopping center located at 1191 Division St in Warwick, Rhode Island. Horvath and Tremblay Commercial RE represented the Buyer in the transaction. The purchase price for the property was $5,750,000. Financing was provided by BankFive, headquartered in Fall River, MA. Constructed in 2020 by The Dartmouth Companies operating as 1191 Division Street Development, this ideally located marketplace is home to Starbucks, Chipotle, and Orange Theory, all of which are signed to long-term leases and are doing well. Looking to expand its portfolio and expand into the NNN retail arena, Atlantic Capital Retail LLC decided to purchase this commercial retail property because it’s brand new, has high profile long-term tenants, and is situated in one of the most sought-after areas in all of Rhode Island. With a distinguished portfolio of residential and commercial properties, Newman Properties and its affiliates own and/or manage over 650 residential units as well as office and retail space. The company has bought and sold over $500 million worth of property in the areas surrounding Eastern MA and RI!. Currently, the company has projects in the pipeline that include condo conversions, renovations, and value-added projects, as well as buy and hold projects. Additionally, the company is overseeing multiple developments, including ground-up construction projects, and is seeking new acquisitions.

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Onset/ Wareham, MA - Newman Properties’ affiliate South Shore Apartments, LLC has purchased a portfolio of 7 buildings in Onset & Wareham, MA. The total price for the package was $8,282,000. Financing was done through Norwood Bank. The portfolio consists of a total of 70 units, of the 70 units 58 are apartments that consist of a mix of studios, 1-bedrooms, 2-bedrooms, and one three-bedroom apartment. The other 12 units consist of commercial and office suites. Matthew Newman, Principal, and CEO of Newman Properties explains why the company decided to purchase the large portfolio: “We have been shifting our attention to property acquisitions on the South Shore the past 2-3 years, looking for opportunities to buy and add value to multi-family and mixed use properties”. Onset is a historic Victorian waterfront community in the Town of Wareham, Massachusetts on the shores of Buzzards Bay. Built in the 1800s as a self-sufficient resort community, most of the original storefronts and cottages remain, allowing it to retain the Victorian charm of the era. Its location on Buzzards Bay offers pristine beaches, excellent kayaking, biking, fishing, and boating opportunities, and beautiful vistas. Only 45 miles from Boston and Providence, it’s an easy drive that bypasses the heavy traffic associated with crossing the Sagamore and Bourne Bridges. For visitors who also want to visit the sites on the Cape Cod, it’s only 2 miles from the Cape Cod Canal, and its lovely bike trails. With a distinguished portfolio of residential and commercial properties, Newman Properties and its affiliates, own and manage over 500 residential units as well as numerous office and retail properties. The company has bought and sold over $500 million worth of property in the areas surrounding Boston, the South Shore, and North Shore! Currently, the company has projects in the pipeline that include condo conversions, renovation, and add-value projects, as well as buy and hold projects. Additionally, the company is overseeing multiple developments, including ground-up construction projects, and is seeking new acquisitions.

Winthrop, MA- Newman Properties’ affiliate Dighton Gardens LLC has purchased a 38-unit, residential property at 87-90 Winthrop Shore Dr, Winthrop, MA. This is the first residential property purchased in Winthrop, as they look to expand their portfolio North of Boston. The purchase price for the property was $6,000,000. Financing was provided by Hanscom Federal Credit Union. This acquisition was part of a 1031 tax exchange. This asset is broken up into two neighboring buildings, with 19 units in each structure. A paved courtyard joins the two addresses to create the feeling of a singular complex. At 5.3 miles from downtown boston, this asset features quick access to downtown and the airport, while providing beachfront living with spectacular views for the residents. The buildings consist of a total of 11-2 bedrooms, 5-1 bedrooms, and 23 studios. Matthew Newman, Principal and CEO of Newman Properties, commented that after 15+ years of success in the East Boston market, the company is looking to expand into

Brighton, MA Dighton Gardens, LLC, completed the sale of three separate buildings with a total of 13 units at 25, 29, & 37 Dighton St. The buyer was 25-29-37 Dighton LLC. Aurel Garban of Unlimited Sotheby’s International Realty represented the buyer in the sale. The asset sold for $6 million and is part of a 1031 tax-free exchange. Matthew Newman, principal, and CEO of Newman Properties explains why the company decided to sell the asset, “We have owned and operated this asset for over 16 years, and was our last property in the Allston/Brighton area. We decided to sell and redeploy the capital into neighborhoods that we have been more focused on, areas such as East Boston, South Boston and the South Shore.” Newman Properties has owned and operated 25, 29, 37 Dighton St. since April 2004. The buildings consist of 13 units; three one-bedroom, eight two-bedroom, one three-bedroom, two-bathroom, and one four-bedroom, one-bathroom. The buildings feature amenities such as a coin-op laundry and three parking areas with over 30 parking spaces. With a distinguished portfolio of residential and commercial properties, Newman Properties owns and manages over 500 residential units as well as numerous office and retail space. The company has bought and sold over $500 million worth of property in the areas surrounding Eastern, Mass. Currently, the company has projects in the pipeline that include condo conversions, renovations, and value-added projects, as well as buy and hold projects. Additionally, the company is overseeing multiple developments, including ground-up construction projects, and is seeking new acquisitions.