Banker & Tradesman publishes a lot of opinion pieces charting the challenges, innovations, ideas and criticism in the real estate, banking, housing policy and urbanism worlds. But that means you probably missed some important perspectives on some important issues this year. (also at Banker&Tradesman)
Modern rental-application fraud has been around for generations, ever since landlords first started to formally ask potential tenants for proof of employment and rental histories to make sure they were of sound character and capable of paying bills on time. (also at Banker&Tradesman)
A flexible investment strategy has fueled the growth of Helge Capital, a Waltham real estate firm that owns and develops multifamily housing in Boston and the inner suburbs. Founder Oleg Uritsky began investing in small real estate properties after emigrating from Russia to the Boston area at age 19, and now owns approximately 1,000 apartments in the region. (also at Banker&Tradesman)
A developer with a large portfolio of multifamily housing in Boston and North Shore communities submitted the high bid for a trio of Revere Beach apartment towers in a bankruptcy case. Waltham-based Helge Capital has offered $42.5 million following an accelerated marketing process for the 303-unit Water’s Edge complex at 364, 370 and 388 Ocean Ave. (also at Banker&Tradesman)
Massachusetts’ housing shortage and soaring rents are being exacerbated by the commonwealth’s extreme eviction laws, which have long driven away national investment and punished landlords. New legislation that allows tenants to seal records of prior evictions has made a bad situation even worse, and destructive to the rental market. (also at Banker&Tradesman)
Helge Capital, a vertically integrated real estate operator specializing in the acquisition, repositioning, and management of multifamily properties throughout Greater Boston, announced that Glen Seidlitz, an experienced real estate investment professional, has joined the firm as Managing Director of Capital Markets. (also at NEREJ)
It was never a matter of if the zoning reforms embodied in Gov. Charlie Baker’s 2020 Housing Choice Initiative would become a source of controversy, says Boston business and real estate attorney Gerry D’Ambrosio. (also at MassLawyersWeekly)
Demolition and cleanup are ongoing at the site of the former Lee’s Trailer Park on 418 Winthrop Avenue, ending a problem-plagued 75-year history punctuated by crime and sanitation concerns. (read .pdf version)