Ned Payne bought 361-367 Cumberland Ave. and 8-10 Alder St. from Ahab Investments LLC for $3.55 million.
Chris Sullivan of Vitalius Real Estate Group and Vince Ciampi of Porta & Co. brokered the deal, which closed earlier this fall.
The five adjacent buildings occupy the corner of Cumberland and Alder and comprise 28 residential units.
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Courtesy / Ned Payne
The multi-family building at 363 Cumberland Ave. in Portland was one of a package acquired in Portland’s Bayside neighborhood.
Sullivan has worked with Payne on other multi-family transactions over the past five or six years. The price per unit, $126,785, was on average for the market in Bayside, he noted.
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The recruitment process for financial advisors leaving one firm to join another went fully digital this year, but there were still lots of big-ticket moves across the industry.
UBS hired a team overseeing $9 billion from JPMorgan s private bank, JPMorgan poached teams for its reorganized wealth business, and Wells Fargo in June had its best recruiting month in a decade, by revenue.
Technology introduced snappier recruitment processes for some firms at a moment when many are doubling down on their wealth management segments and the space is rife with consolidation.