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Scots Make $6M Foray Into Back Bay

BOSTON-The buyers may be planning to rent the properties as short-term luxury rentals, similar to a plan undertaken recently in the United Kingdom.

By Joe Clements | Updated on March 20, 2007

(To read more on the multifamily market, click here.)

BOSTON-A Scottish real estate company has paid more than $6 million to acquire two residential properties in the Hub’s upscale Back Bay. Heritor’s Consultants appears to be company behind the purchase of 273 and 319 Beacon St., a pair of brownstones secured in simultaneous but separate transactions. Sources say the firm may be looking at offering the units as short-term luxury apartment rentals.<p.Suffolk County Real Estate records indicate the buyer of 273 Beacon St. to be Heritor's 273 Beacon St. LLC and that of the latter asset as 319 Beacon St. LLC. In both cases, Christopher Buchan of Edinburgh is listed as the manager, while the business address is c/o a suburban Boston law firm, Hall & Sullivan. The attorney, Patrick Hall, did acknowledge to GlobeSt.com a “relationship” with Heritor's, but declined further comment or to say what plans the new owners have for the properties.

According to industry sources, however, Heritor’s appears to be angling for a short-term rental program similar to one it recently launched in its home base. In January, the firm announced plans to take 50 of its existing 300 residential properties in Scotland and convert them to short-term rentals.

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