"We like Boston quite a bit," manager Christopher Buchan tellsGlobeSt.com, explaining the historic flair of the Back Bay andBeacon Hill fit into the profile of Heritor's standard propertyinventory. Through various programs, Heritor's owns and managesabout 300 older residential buildings, nearly all in Scotland inthe company's home base of Edinburgh and in Glasgow, holdings withvalue estimated at 120 million British pounds.
The core of its business previously had been a so-called"let-to-buy" investment program that entailed acquiring,refurbishing and renting units for a seven- to 10-year periodbefore harvesting them at a hoped-for return. Heritor's earlierthis year embarked on a plan to rent a block of those apartments ona quick turnaround basis, in some cases allowing stays as short asone day, as well as weekly or by the month.
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