Multifamily Apartment Complexes

New England Commercial Realty Advisors, Inc. (NECRA), recently completeted appraisals of several market-rate multifamily apartment complexes in Massachusetts, Maine, Rhode Island, and Connecticut.  Combined, the assets totaled more than 1,000 units, with a market value exceeding $95M.  Stephen R. O'Toole, Principal of NECRA, indicated that time constraints made this a challenging assignment, as there were significant financial penalties our client would have incurred for a delayed closing.