Silver Hammer Award for Alaris Construction!


Last week, we had the honor of receiving the Worcester Regional Chamber of Commerce Silver Hammer Award for our team’s outstanding work on the building located at 517 Main St in Worcester. This project involved the careful restoration of a long-vacant building in Downtown Worcester, resulting in the creation of 8 residential apartments and a ground floor retail space. Following the completion of the project, all 8 units were quickly leased after we handed over occupancy to The Grid Property Management.

We are absolutely thrilled with the outcomes achieved through this project and eagerly anticipate our ongoing participation in the revitalization of Downtown Worcester.


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2022 Year in Review



12022 was another busy year for MG2!
We completed $180 million of transactional activity despite the changing economic conditions. Our hard work paid off in 2022 with continued growth throughout the MG2 portfolio.  We are extremely proud of our brand-new boutique apartment buildings in East Boston, built by Alaris Construction. We continued the renovations and updates of older buildings to create more modern apartments for our residents.

We anticipate 2023 will be another busy year as we navigate through the “New Normal” with our holdings in East Boston, Worcester and beyond.  Continue to follow our page for the most up-to-date company news and insights!

The MG2 Approach to Vertical Integration

John McGrail

MG2’s approach to real estate investment is to capitalize on opportunities overlooked by others. But that’s only the beginning of the process.  As a vertically integrated firm, once we acquire a property, we are able to perform our own renovations and also manage the property through any stabilization period. Vertical integration provides MG2 four distinct advantages:

Cost control –When outsourcing construction, costs related to renovations can quickly outpace the budget, forcing changes to the original operating proforma. By operating our own highly-skilled construction staff, we are able to purchase the materials we need at discounted rates and complete renovation projects more cost-effectively.

Process management – Purchasing, renovating and managing properties is a significant task that, if not managed properly, can incur unexpected expenses or delayed timelines. Vertical integration allows us to manage every aspect of a project in-house, keeping budgets and timelines in check, providing added value to end-user tenants.

Differentiation – Operating a real estate investment company, construction company and property management company gives us access to the experts we need in every channel of the real estate business. Appraisers, bankers, builders, materials purchasers, management consultants and other industry professionals ensure that we are able to operate more effectively.

Improved efficiency – If you’ve ever worked with a large organization, you understand how difficult it can be to jump different levels of a company to get the information or approvals you need. By taking every aspect of the business in-house, we significantly reduce the time it takes to get the various aspects of a renovation process approved. This brings our properties to market sooner, helping to maximize investment potential.

As MG2 continues to grow, the foundation of vertical integration will serve as a vital component to consistently create value added properties. The expertise and know-how to take advantage of every step of the process, from acquisition to completion, puts MG2 in the unique position to succeed in Boston’s highly competitive real estate market.

MG2 Year End Recap

John McGrail

MG2 finished 2015 out strong, closing nearly one deal per week over the last two months of the year. The majority of those deals were closed in East Boston, an area historically ignored by real estate investors. While the cost per square foot in downtown Boston has been steadily rising, exceeding $1,000 per square foot in 2015, we are confident in the middle-market potential of East Boston. We will continue to invest in the redevelopment of that area of the city; providing quality, workforce housing options.

We were able to close on seven East Boston properties in 2015, totaling more than 70,000 square feet. Additionally, we have closed more East Boston properties in early 2016, bringing our total East Boston portfolio to 10 assets, and will retain a company focus on continuing to find value in East Boston throughout 2016.

Moving into 2016, we are also expanding our focus to include the opportunities available to revitalize downtown Lynn. In 2014, we were able to acquire an eight-story iconic flatiron building in the city center. We are planning a gut renovation of the building and restoring its exterior to its 1914 glory. Once complete, 49 apartments will be made available with an additional 3,800 square feet of ground floor retail space. “This is a very interesting project. It involves working with the City of Lynn, the State Office of Housing and Economic Development and Historic Tax Credit experts to bring market rate units and an active retail space to Central Square,” said Joseph Donovan, MG2 Vice President.

Lastly, we are in the midst of a massive repositioning project in Worcester on Franklin Street at Portland Street. This mixed-use development is nearly two million square feet, covering an entire city block and involving over 500 individual residential units that we have acquired over the past 10 years. The majority of the project consists of student and young professional housing, with an official launch of the new vision and redevelopment plans in May.

As we push forward into 2016, we are keeping an eye on real estate trends in the greater Boston region, and one that we are particularly interested in is the overall cost of construction. As a vertically integrated firm, MG2 has its own construction arm, Alaris Construction, enabling us to capitalize on cost savings and quality work through self-performed construction, similar to our work in downtown Lynn.

For more insight on Boston real estate trends, thought leadership on Boston’s real estate industry and updates on exciting projects, subscribe to our blog and never miss a post.