Building Value for Our Partners
Schochet delivers a full range of acquisition, financing, affordability preservation, asset performance enhancement, property management, construction management, and financial reporting services to our owned portfolio and a variety of third party clients, including day to day building operations, financial administration, leasing activities, and government interface. Schochet also serves as liaison to more than 500 individual investors.
We are an industry leader with development and investment experience that extends from structuring complex affordable housing transactions to developing and managing market-rate housing ranging from workforce to luxury apartments. As the New England real estate environment has evolved over the past half century, Schochet has adapted. With a special competency for affordable housing development, Schochet has adapted mills and other historic structures for reuse as housing, preserved and renovated existing affordable housing, acquired and repositioned market rate communities, and constructed and marketed new communities.
Schochet maintains productive working relationships with multiple public and private lenders, Low Income Housing Tax Credit syndicators, and institutional as well as individual investors, and are frequently sought out as creative problem solvers who can bring a complex development or preservation project to fruition and success. Schochet team members maintain current familiarity with various financing products, both public and private. In addition, the knowledge of property operations and present-day operating standards contributed by our team members focused on property management allows Schochet to accurately underwrite and project future operating expectations, ensuring more consistent meeting, and exceeding of pro formas.
Headquartered in Braintree, MA, the company currently employs nearly 200 professionals and owns and/or manages 34 communities across four New England states, comprised of almost 5,500 units and more than 125,000 square feet of commercial space valued at more than $1 billion. These communities provide homes to more than 20,000 families and seniors and more than 50 commercial enterprises throughout New England.
Schochet is recognized professionally for its real estate management expertise by the Institute of Real Estate Management as an Accredited Management Organization and by the National Affordable Housing Management Association (NAHMA) as Specialists in Housing Credit Management (SHCM) and several of our team members hold professional credentials from these groups. Schochet also maintains active membership in these organizations as well the Urban Land Institute, Greater Boston Real Estate Board and national and local chapters of the National Apartment Association where our staff participate on key committees and have held leadership positions interfacing with public agencies and officials to address issues facing the broader community.
Our property management team has deep expertise navigating government regulations, policies, and agencies at the federal, state, and local level to create and maintain quality developments which deliver significant benefits to the community at large, successfully forging consensus to build communities of enduring civic pride and economic value.
Schochet also balances environmental stewardship with generating financial results. We have assumed a leadership role in sustainability and energy efficiency over more than a decade, completing more than 175 energy conservation and equipment replacement projects since 2011, resulting in more than $9 million of utility savings. Schochet-managed communities have realized an overall energy use reduction of nearly 16.4%; water use reduction of 17.4% and CO2 emissions reduction of 20.7%. Schochet is accredited as a Green Property Management Company by HUD.