The Schochet Companies

What The Schochet Companies does

The Schochet Companies is a privately-held real estate investment and management firm headquartered in Braintree, Massachusetts, founded in 1973 by Jay R. Schochet and now led by President and CEO Richard Henken (in role since 2004). The company specializes in affordable housing, owning and/or managing more than 6,000 apartments and approximately 125,000 square feet of commercial space across New England, with a stated total portfolio value exceeding $1 billion. Operating through three core divisions (Development, Property Management, and Investments) and a wholly-owned property management subsidiary, Federal Management Co., Inc., the company preserves, develops, and manages affordable rental communities serving low-income families, seniors, and disabled individuals across Massachusetts, Rhode Island, Connecticut, and Maine.

Name

The Schochet Companies

Legal name

The Schochet Companies

Website

https://schochet.com

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

101–250 employees

Short description

The Schochet Companies is a Braintree, MA-based affordable housing real estate investment and management firm founded in 1973, owning and managing 6,000+ apartments across New England for low-income families, seniors, and disabled residents.

Ownership category

akta.pro rank

Product category

Affordable Housing Real Estate Services

NAICS

Lessors of Residential Buildings and Dwellings (53111), Lessors of Residential Buildings and Dwellings (531110), Rental and Leasing Services (532), Real Estate and Rental and Leasing (53), New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Operators Of Apartment Buildings (6513), Real Estate Agents & Managers (For Others) (6531), Real Estate (6500)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industries

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Affordable housing development
• Multifamily property management
• Real estate investment
• Housing preservation
• Low-income housing tax credits

Headquarters

HQ city

Braintree

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Rental Operations: Schochet generates revenue through rental operations from owned and managed apartment communities. The company owns and/or manages over 6,000 apartments throughout New England, with properties serving various income levels through subsidized and affordable housing programs.
2. Property Management Services: The company provides property management services for owned properties and as a third-party manager for partners like Retirement Housing Foundation (RHF). Management services include compliance with HUD regulations, Section 8 housing assistance programs, and Low-Income Housing Tax Credit requirements.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

The Schochet Companies acquires, develops, and manages affordable housing communities across New England, operating through three divisions — Development, Property Management, and Investments. The company owns and/or manages more than 6,000 apartments and 125,000 square feet of commercial space, partnering with government agencies, nonprofits, and tax-credit investors to preserve long-term affordability.

Product overview

The Schochet Companies operates as a boutique real estate investment and management company with three core divisions: Development (creating new affordable housing), Property Management (managing owned and third-party properties), and Investments (investment advisory services). The company also uses its affiliate Federal Management Co., Inc. for property operations. The portfolio consists primarily of affordable housing communities across New England, including family apartments, elderly/disabled housing, and mixed-income developments. The company focuses on preservation of existing affordable housing rather than new AI/technology product offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Division Real estate development services for creating new affordable housing communities and mixed-use properties throughout New England, including site acquisition, financing, construction oversight, and entitlement.
• Property Management Division Comprehensive property management services for owned and third-party affordable housing communities, including tenant relations, maintenance, leasing, and compliance with HUD, Section 8, and LIHTC regulations.
• Investments Division

Quantifiable outcome

• Preserved 504 affordable housing units at Fresh Pond Apartments for more than 1,100 low income residents
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered major, flagship and minor.

• Jonathan Rose CompaniesmajorStrategic or Co-development Partner · 4 June 2020Schochet partnered with Jonathan Rose Companies to acquire Riverside Towers in Medford, MA. The partnership involves significant investment in common area modernization, upgrades to dwelling units, and enhanced social services at the 200-unit property.
• Retirement Housing Foundation (RHF)flagshipStrategic or Co-development PartnerRHF is a major nonprofit partner that co-owns properties with Schochet. Schochet provides development consulting and its affiliate Federal Management Co. manages RHF properties. RHF owns 194+ communities nationwide with over 17,000 apartments.
• Allston Brighton CDCmajorStrategic or Co-development PartnerAllston Brighton Community Development Corporation partnered with Schochet to acquire Warren Hall in Brighton. ABCDC leads community engagement and works with Schochet on the historic preservation and affordable housing conversion project.
• LeadingAgemajorStrategic or Co-development PartnerLeadingAge represents nonprofit aging services providers and connected Schochet with vaccine availability at affordable housing sites. Schochet coordinated vaccination clinics at 13 properties through this partnership, vaccinating 2,300+ people.
• CVS HealthminorOthersCVS provided on-site vaccination services at Schochet properties through a broad partnership with LeadingAge and state governments (RI.gov, mass.gov).
• Fenway CDCmajorStrategic or Co-development PartnerFenway Community Development Corporation partnered with Schochet to preserve 97 affordable units at Newcastle-Saranac Apartments in Lower Roxbury. Mayor Walsh joined the celebration of the acquisition.
• Devenscrest Tenants Association (DCTA)majorStrategic or Co-development PartnerTenant organization that worked to preserve naturally occurring affordable housing after the property was sold in 2021. Selected Schochet as developer partner to lead the preservation effort.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Market position

Strengths4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/schochetco/?hl=en
• Xx.com/SchochetCompany

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Schochet Companies