May 18, 2016, WOBURN, MA – The Dolben Company, Inc. (“Dolben”) is pleased to announce that the firm has assumed the management of two properties totaling 620 units in South Portland, Maine, Redbank Village and Liberty Commons. The properties are owned by Jones Street Investment Partners (“JSIP”), of Hingham, Massachusetts, and these new assignments are a testament to the companies’ growing partnership: Dolben also manages two other JSIP-owned properties.
Redbank Village consists of 500 residential units, and was built in 1943. The community consists of one, two and three bedroom duplexes, making it a unique community in the Dolben portfolio. Originally, the property was built as military housing, and over the past few years many renovations have occurred at the property. Redbank Village’s sister property, Liberty Commons, consists of 120 units and was built in 2008. The property is a garden-style community with one, two, and three bedroom units. Liberty Commons offers large floor plans and fireplaces in select units.
The two properties are located adjacent to one another and share many amenities, including a large clubhouse with a 24-hour fitness center, business center, and community room. The properties also offer easy access to public transportation, with a bus stop conveniently located at the property entrance. Rents at Redbank Village start at $1,105/month, and rents at Liberty Commons start at $1,395/month.
Thomas D. Beaton, Senior Vice President, Management, noted, “We are very pleased to be growing our management portfolio with JSIP. The Portland market is viewed as a strong up and coming market, and these assignments provide us with an exciting opportunity to reenter Maine after two decades.”
About The Dolben Company, Inc.
With offices in Massachusetts and Maryland and more than 14,000 residential units throughout the New England and Mid-Atlantic regions, The Dolben Company, Inc. is built on a deep heritage of performance and stewardship. Since 1929, four generations of the Dolben family have upheld a proud tradition of unparalleled success and profitability, fulfilling the property and investment needs for a wide array of businesses, financial institutions, organizations and private investors. For more information on The Dolben Company, visit www.dolben.com.