TRANSACTION SUMMARY
In 2004, The Congress Group realized the opportunity to convert one of the HighPoint apartment buildings into a condominium. An evaluation of the demand for owner-occupied units in the Quincy market drove
the decision to create the 126 condominium units at Excelsior.

After commencement of construction of the first phase of the HighPoint project (Refer to HighPoint I) as 520 rental apartment units, the rental markets in great Boston softened somewhat while, at the same time, an increasing demand for entry-level condominiums became evident.

VALUE ADDED BY MANAGEMENT
Within a year, the entire building was sold-out and control of the condominium association was turned over to the newly elected trustees.

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