Thomas Flatley, Self Made Real Estate Mogul, Selling Most of Real Estate Holdings
Thomas Flatley is considered one of the top real estate investors in the country. He has kept a low profile but also took the investment in a single home and transformed it into a 1.3 billion dollar fortune. The self made immigrant is now getting out of his commercial holdings in New Hampshire and Massachusetts. The majority of these properties are shopping centers.
Now the question I ask is guys like this tend to get ahead of markets. There is a tremendous amount of money chasing commercial investments right now. Is Flatley ahead of the market or is his age, 75, causing the exit strategy?
The 11 properties are expected to sell for about $500 million combined.
Flatley, 75, is also shopping his Braintree Hill Office Park, which has nearly 500,000 square feet of space in four buildings, for about $120 million.
Flatley properties for sale include the Dedham Mall, as well as shopping centers in Braintree, Canton, Falmouth, Barnstable, Medfield, and an unfinished site in Southborough in Massachusetts, as well as shopping centers in Belmont, Nashua, Portsmouth, and Rochester, New Hampshire.
Flatley hopes to use the proceeds of the sales to build his charitable foundation, which now stands at about $200 million. via BostonHerald.com.
Here is a great article on Thomas Flatley from the Business Journal in 1996 that shows he got into the Hotel game as it took off.
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Comment by Greg Swann on 21 March 2007:
I lived in a Flatley apartment community in North Andover, MA, around 15 years ago. Gated, guarded and everything in perfect condition at all times. Best apartment I ever had. The man’s story is the American Dream writ large.
Pingback by Thomas J. Flatley, 76, RIP — The Real Estate Bloggers on 17 May 2008:
[...] want to subscribe to my RSS feed. Thanks for visiting!A great member of the real estate community, Thomas Flatley, has passed away today. He is one of the few that did it the right way with hard work and [...]