Schochet Press Releases

    Schochet President and CEO Richard J. Henken said, “This expansion and the corresponding promotions and new positions not only evidence the progressive evolution of our corporate commitment to excellence in property management and resident services, but are also a testament to the outstanding work being done by our staff. I am so proud that we were able to draw upon internal resources for each of these roles, with top-notch professionals who have demonstrated time and time again their prioritization of community, quality of life and operational efficiency at our properties.” Kimberly Quint, previously a portfolio manager, was promoted to the newly created position of director of portfolio operations, which will enable her to focus on portfolio-wide quality and systems initiative, working closely with Executive Vice President Peter Lewis in overseeing day-to-day portfolio operations as well as Lewis, Chief Operating Officer David Flad, and Chief Financial Officer Brian Tewksbury coordinating portfolio-wide system improvements. After joining Schochet in 2013 as senior property manager, Quint was promoted to portfolio manager in 2017 and director of property operations in 2021. Quint started in the ...
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    The agreement will preserve 166 former Below Market Interest Rate (BMIR) units as affordable for at least 50 years through City funding and commits the owner to renew its contract with the US Department of Housing and Urban Development (HUD) to maintain 338 apartments as project-based Section 8 units for the term of the Agreement.  The former BMIR units will be preserved in two tiers, one for Low-Income households (available to households earning at or below 80% of Area Median Income adjusted for family size (AMI)) and one for Moderate-Income households (available to households earning 80% to 95% of AMI). Rindge Associates is a limited partnership of investors with day-to-day-decisions made by the general partner, an affiliate of The Schochet Companies. Cambridge Mayor Sumbul Siddiqui said she was particularly proud of the preservation transaction because Fresh Pond Apartments (formerly known as Rindge Towers) is where she grew up and where she and her family had a stable foundation for opportunity and growth. She said, “I am so pleased this deal has been finalized and that these units will remain affordable for ...
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    Davis joins Schochet from Peabody Properties, where she was a multi-site senior community manager responsible for supervision of five sites. Prior to that, she held positions as senior community manager for Trinity Management LLC; and as property manager for Maloney Properties, Cruz Management and Hallkeen Management Co. Davis holds a bachelor of science degree from Cambridge College and anticipates receiving a Masters in Urban Affairs from Boston University in May 2022. She is a candidate for Certified Property Manager and has obtained certification in the following areas: Institute of Real Estate Management (IREM) Accredited Residential Manager; National Center for Housing Management; Site Based Budgeting Specialist; Certified Occupancy Specialist; New England Affordable Housing Management Association Tax Credit Specialist; Spectrum Enterprises Certified Credit Compliance Professional; IREM – Executive Councilor, as well as receiving a Communities of Quality-Exemplary Family Property Award in 2015. As portfolio manager, Davis will be responsible for overseeing 10 to 15 properties within the Schochet portfolio of affordable and luxury housing and commercial retail space, including the delivery of services and support to staff, tenants and properties; implementing standardized processes ...
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    Cruz, most recently senior compliance specialist, began at Schochet as a compliance specialist in 2011, following positions as assistant property manager at Winn Residential and housing assistance specialist at Somerville Community Corp.  Earlier in her career, she held customer service positions at The Charles Hotel and The New York Public Library. As director of compliance, Cruz will use her property management, training, and regulatory compliance experience to ensure adherence to Housing and Urban Development and Low-Income Housing Tax Credit regulations across the Schochet portfolio of affordable and luxury housing and commercial retail space, which include more than 5,000 apartments and 100,000 square feet of commercial space throughout New England.  Additionally, she will ensure that properties are receiving the requested subsidy and assist property staff in resolving issues when subsidy is not received. The Schochet Companies President Richard Henken, said, “We are proud to already count among our staff a professional with the skills, credentials and expertise necessary for this critical position.  Angela worked closely with Grace to build and maintain Schochet’s excellent industry reputation and we are excited about the role ...
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  • Lawyers Clearinghouse Honors The Schochet Companies President Richard J. Henken at Annual Meeting Published last year
    Henken officially joined Schochet as its Executive Vice President in 1997, after having been affiliated with, and an advisor to, the company for more than a decade.  In 2004, Mr. Henken became President of Schochet Companies including Schochet Development, Schochet Investments, and Schochet Property Management.  Since joining the company Mr. Henken has been responsible for closing transactions valued in excess of $400 million, including the acquisition and preservation as affordable of 2,800+ apartments in 16 developments. Event Chair Nick Moise, senior vice president and director of commercial real estate at Eastern Banks, said, “I don’t think there is another person in the industry as generous and as thoughtful as Rick when it comes to stepping up to the plate. If I have a cause that I need some help with, Rick has been my first call over the years. He’s a great guy and a great friend.” Henken sits on several Boards, including the Catholic Schools Foundation Inner City Scholarship Fund where he is past President; the Rental Housing Association of Greater Boston Real Estate Board, where he is past President, ...
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    The NAHP-e certification was conceived and designed to recognize those individuals who own, operate, manage, or assist in the management of affordable housing.  The NAHP-e designation is awarded to the affordable housing managers who meet NAHMA’s stringent requirements in the areas of education, experience, and ethical conduct.  Flad, Schochet’s COO since 2009, is responsible for the firm’s corporate and property operations, capital projects, leasing, regulatory compliance, and staff development and empowerment. Since 1983, Mr. Flad has actively managed and repositioned A, B and C grade market rate, tax credit, and subsidized, multifamily investment assets. He has held select executive and senior level corporate positions in the real estate industry, most notably Vice President and Partner at The Boston Financial Group, a national owner and manager of multifamily investments, and Principal of New Facets Consulting, a practice specializing in organizational change management and project management for real estate firms. He holds a Bachelor of Arts degree with high honors from Boston University and a Master of City Planning degree from MIT. He has also earned certificates from the Mid-Career Executive Program ...
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  • Retirement Housing Foundation and The Schochet Companies Preserve an Affordable Housing Community in Attleboro, MA Published last year
    Hillcrest Acres Apartments is an expired Rent Supplement and Section 236 property, with a mixed income, but mostly affordable, resident population.  With all affordability restrictions having expired, the project was at high risk of being lost to a market rate buyer, potentially leading to community disruption and displacement of many lower income households. “I am pleased to welcome Hillcrest Acres to the RHF family of 198 communities,” Dr. Laverne Joseph, President and CEO of RHF.  “There is a large and growing need for affordable housing and we are doing our best to address that need.” With the goal of preserving this critical asset as affordable, the development team worked tirelessly  with the property owner for over a year to reach agreement on a transaction which would satisfy the seller while also allowing for long term preservation of the property. To facilitate preservation, the Community Economic Development Assistance Corporation (CEDAC) has provided a $8.4M acquisition loan allowing for a bridge to a low income housing tax credit transaction which, coupled with financing and funding from other public sources, will allow for a ...
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    Weber was most recently director of engineering, plant operations & maintenance at Falmouth Hospital.  Immediately prior to that, he was facility manager, plant operations & maintenance at Cape Cod Hospital.  In both positions, he managed and oversaw all aspects of Cape Cod Healthcare’s buildings, grounds, maintenance, construction, aesthetics, and budgeting for a 16-building portfolio, which included resident rehab centers and nursing facilities, ensuring that the facility remained in compliance with all local, state, and federal healthcare regulations. Weber graduated from Massachusetts Maritime Academy with a degree in Marine Engineering in 2008, following which he worked in the offshore drilling industry for eight years, where he was responsible for commissioning, operation, and maintenance of marine and oil drilling systems, gaining experience with complex mechanical systems.  Subsequently, he obtained his United States Coast Guard license as Chief Engineer and embarked upon a career on-shore, including serving as an engineering consultant for CO Energy and Engineering, where he provided a suite of commissioning services for healthcare, commercial, residential, industrial and institutional industries including planning and commissioning services for emergency power systems; complying with ...
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  • Fenway CDC and Schochet close $53 million Tax Credit Equity and Construction Financing for Newcastle Saranac Apartments Published last year
    Constructed in the late 1890s and rehabilitated into Section 13A family housing in the 1970s, the Newcastle Saranac Apartments had recently reached the maturity of the Section 13A mortgage. The expiration of these affordability restrictions put the building at risk of being converted to market rate units and threatened to displace many families who have called this property their home for generations. In January 2019, partnering with the Schochet Companies, Fenway CDC acquired the project with bridge debt financing from the Community Economic Development Assistance Corporation (CEDAC), thus preserving its affordability for current and future tenants.  Funds also came from the City of Boston Department of Neighborhood Development off site Inclusionary Development Policy program. As part of the construction closing, the CEDAC debt has been repaid and the project has entered into a tax credit partnership with R4 Capital LLC to fund the rehabilitation and modernization of the two historic buildings that comprise the development.  With tremendous funding and support from the City of Boston, the Massachusetts Department of Housing and Community Development (DHCD) and the Massachusetts Housing Finance ...
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  • South End Mixed-Income Housing Community Will Undergo Major Renovation and the Preservation of Affordability with $30.3 million in MassHousing Financing Published last year
    BOSTON – July 21, 2020 –  MassHousing has provided a total of $30.3 million in affordable housing financing to the Fenway Community Development Corporation for the refinancing, major renovation, and preservation of affordability for mixed-income households at the 97-unit Newcastle Saranac in Boston's South End. Fenway CDC—in partnership with the Schochet Companies—acquired Newcastle Saranac through Chapter 40T, after the MassHousing Section 13A mortgage expired in March 2018 and the former owner intended to sell the property, putting the property’s 97 affordable units at risk of converting to market-rate rents. "The deep affordability of these units for nearly a hundred households, contrasted with the rents of market-rate housing in the area, made their preservation especially critical for maintaining the vibrancy and diversity of the neighborhood," said MassHousing Executive Director Chrystal Kornegay. "Thanks to a strong collaborative effort by the Commonwealth, the City of Boston, the Community Economic Development Assistance Corporation, the Fenway CDC, the Schochet Companies and the residents of Newcastle Saranac, the community will see affordable homes preserved and substantially renovated. MassHousing is pleased to be a partner in this important transaction." "In Boston, we are ...
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    Financed through MassHousing, Riverside Towers is designated for occupancy by elderly and disabled residents.  Of 200 units, 199 receive direct rent subsidy under a HUD Project-Based Section 8 HAP contract.  With adjacency to the Medford Senior Center and proximity to mass transit and the vibrant Medford Square shopping and restaurant district there is a sizable waiting list for apartments.  The Schochet Companies, which was also a partner in the previous ownership team, has been the management agent for the property since 2007 and will continue in that role.  Richard Henken, president of The Schochet Companies, stated that the ownership transition will not result in any immediate significant changes, with key management staff continuing to ensure day-to-day operations continue uninterrupted. Longer term plans include a significant investment in common area modernization, upgrades to dwelling units, and enhanced social services geared toward quality of life and health and wellness improvements for the community.   Specifically, new ownership expects to: upgrade apartments with modern finishes, fixtures and appliances repurpose and modernize common amenity areas to provide on-site health services, a fitness center, a business center, ...
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    Portsmouth, RI, September 25, 2019 – The Schochet Companies today announced that it has acquired the Bay View Estates apartment community in Portsmouth.   The Schochet Companies, a full-service real estate development and management company, owns and/or manages more than 5,000 apartments throughout New England and employs more than 170 individuals.  The company’s history on, and commitment to, Aquidneck Island spans nearly fifty years since its formation by the late Jay R. Schochet, a long-time Newport resident, in 1973.   Located 20 minutes from Newport and 35 minutes from downtown Providence, the 26-acre Bay View offers panoramic views of Narragansett Bay along with such amenities as a swimming pool and fitness center, tennis courts, BBQ grills, community gardens, internet café, and community room.   Schochet assumed the role of management agent from Chestnut Hill Realty.   Richard Henken, Schochet Companies’ president, said, “We are thrilled to have the opportunity to acquire this beautiful, lovingly maintained property from Chestnut Hill Realty and will strive to enhance the excellent service that Bay View residents have come to expect from their management team.”   For more information, or to schedule a property ...
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The Schochet Companies News

Press releases, events, and related news.

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BRAINTREE, MA, February 7, 2022 – Entering its 50th year of operation and growth, The Schochet Companies has expanded its capacity in resident services and property and portfolio management over the past several months, leading to recent promotions along with the creation of new positions as part of its ongoing emphasis on enhancing the quality of its properties and the experiences of its residents.


Press coverage of yesterday’s announcement of preservation of 504 affordable housing units at Fresh Pond Apartments in Cambridge.

Finalized agreement preserves the affordability of 504 housing units at Fresh Pond Apartments

As seen in Cambridge Day on October 11, 2021
By Marc Levy




CAMBRIDGE, MA, October 11, 2021 – The Schochet Companies today announced that Rindge Associates Limited Partnership has executed an agreement with the City of Cambridge to preserve as affordable 504 housing units at Fresh Pond Apartments.

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Landlords Say Eviction “Wave” Should Pass Franklin

After a more than a year of a prohibition on evictions by state and federal government, the “final” extension is set to expire on Saturday, July 31 – and activists have warned of a wave of coming evictions, likely to be followed by an uptick in homelessness.

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As a result of a broad effort of The Schochet Companies staff, LeadingAge (@LeadingAge), government entities (,, @masshousing, @rihousing) and CVS, more than 2,300 people were vaccinated at 13 properties owned or managed by Schochet in recent weeks, including more than 2,000 residents, 61 staff and nearly 200 volunteers and PCAs (Primary Care Assistants) working with elderly residents.

This includes properties owned by the Retirement Housing Foundation (@RHF) and properties co-owned by Jonathan Rose Companies (@JonathanRoseCompanies).

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BRAINTREE, MA, February 24, 2021 – The Schochet Companies today announced that Tasha Davis has joined the company as portfolio manager.

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BRAINTREE, MA, February 17, 2021 – The Schochet Companies today announced that Angela Cruz has been promoted to director of compliance, replacing Grace Swierk, who recently retired after holding the position since 2013.

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Feared Evictions Pushed Back As Rental Aid Trickles Down


December 24, 2020

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Lawyers Clearinghouse Honors The Schochet Companies President Richard J. Henken at Annual Meeting

Lawyer's Clearinghouse, which engages the legal community in pro bono work for nonprofits and homeless and low-income clients, recently presented The Schochet Companies President Richard J. Henken with the Stephen M. Nolan Leadership Award at its 32nd annual meeting (which took place virtually).

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David Flad, Chief Operating Officer of The Schochet Companies was recently awarded the National Affordable Housing Professional (NAHP) -- Executive Level designation by the National Affordable Housing Management Association (NAHMA).