Overview: Candor Realty and our subsidiaries own, manage, and operate more than 300+ units in New England area.

 

Our mission is to find distressed properties that are in need of significant improvement and focus on value-add renovations. We enjoy taking a property that is currently being under-utilized or the "worst property on the street" and turning it into something that the community can be proud of.

If you are interested in learning more or have a project for us to consider please click on "Contact Us" in heading above. 

 

 

 

Residences at Drum Hill

 

Candor Realty and Millennium Holding Group are pleased to announce the acquisition of Residences at Drum Hill, a 132-unit multifamily apartment community located on the Lowell/Chelmsford line in Massachusetts.  This property consists of (3) residential buildings with a desirable mix of one and two-bedroom apartments.  It’s a well-maintained property located minutes from major interstates with a long history of high occupancy and has been owned and operated by the same owner since it was built in 1980. The property was purchased for $20,000,000 and appraised a $21,500,000 "as-is". The team is excited to be starting with so much equity and is looking forward to updating the units and increasing value for the investors involved. Click this link to find out more about this project or to subscribe to be notified of any future opportunities!

 

**Update**

It’s official! We are excited to announce the closing of our Oak Residences project in Lowell MA. We purchased this property on June 15th, 2021 for $20,000,000 and we closed on the sale on August 1st, 2022 at $25,900,000. This is by far our LARGEST project to date!

 We were able to add a ton value, almost $6M worth, in our 13 months of ownership which provided awesome returns to our investors. We got rid of some problem tenants, implemented a very heavy of pest control program, renovated many units, increased rents, but most importantly - what was originally overlooked - we brought the property onto a professional management system.

 Why was that important? During our acquisition, when we needed an updated rent roll, it would take the staff days to prepare, review, and get it to us. Now multiply that “simple” task across all aspects of property management. It doesn’t work. Now that we brought the whole system up-to-date, we can get an accurate rent roll with just a click of a button. We also now have accurate accounting of all income and expenses which sounds pretty basic but in reality, it added a lot of value to this location. We are very happy to provide this great return to our investors 4 years AHEAD of our targeted exit. We are looking forward to a long and profitable relationship with our investors on many more projects in the years to come!

 

 

TP1 & TP2 Portfolio

 

Candor Realty purchased 35 units over 13 properties in Fitchburg, Leominster, and Framingham as 1 large commercial package for $2,710,000 in September 2020. We had them appraised separately as individual residential properties, since only 1 of the buildings had 5 units and the rest were 4 apartments or less, which resulted in significant equity on day 1. 

B-Lands

 

Candor Realty purchased 23 units over 8 properties in Leominster and Fitchburg as 1 large commercial package for $1,850,000 in March 2020 during the height of COVID. We had them appraised separately as individual residential properties, since they were all buildings with 4 apartments or less, which resulted in significant equity on day 1. 

 

Lowell Housing Authority Portfolio

 

Candor Realty purchased 12 units (9 unit and 3 unit) and assisted a few clients with purchases of 3 other multi-family properties from the Lowell Housing Authority through a city wide, HUD approved, RFP process. The results were a very favorable experience for everyone involved including the housing authority, the purchasers, and the subsidized tenants that were inherited with the buildings. We are in the process of updating the buildings we purchased and helping our clients with updates in their buildings as well which has resulted in significant improvements in the surrounding neighborhood. 

Misc.

 

Candor Realty / Simplified Real Estate now owns multi-family properties in Massachusetts, Connecticut, New Hampshire, and Maine - with partners. All of them are purchased with significant value-add opportunities which has been the target of our existing portfolio.

 

Recent Portfolio Additions in 2022