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 wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
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 [...]