Thursday, September 07, 2006

Cashing Out!

It appears that an individual investor is dumping his portfolio of multi-family properties in Arlington Massachusetts.

The assortment includes numerous styles, periods, and locations and currently totals $8,359,000 in combined listings.

A quick perusal of listing with results in a startling 11 out of 32 multi-family listings being handled by Center Realty & Management, Inc. of Winchester MA, an agency with no official presence whatsoever on the web.

Furthermore, all listing descriptions are nearly identical, reading as follows:

“Motivated seller!! Says bring offers! Fantastic location, nice wood floors make this home a great purchase. Strong rental history. Come see.”

This is not the first investor seen cashing out in the Boston area recently but the fact that this individual is listing fully one third of all multi-family homes in Arlington, simultaneously, seems to speak volumes.