What Grove Property Group does

Grove Property Group is a Greater Boston–based real estate firm founded in 2023 that provides multifamily investment brokerage, leasing, property management, investment advisory, and residential sales services. The firm operates as a DBA under the legal entity Citicore Properties and is headquartered at 423 West Broadway in South Boston, Massachusetts, with service coverage spanning Greater Boston, Massachusetts more broadly, and Rhode Island. Its core customer segments are multifamily property investors (including 1031 exchange participants), property owners requiring leasing and management support, and residential buyers and sellers in the Greater Boston market.

The firm's product portfolio is delivered through a team of senior brokers and agents led by Managing Partners John Federico (career transaction volume exceeding $800M, MBA from Quinnipiac University) and Ryan Quinn (over $300M in transactions since 2017, former Marcus & Millichap, UMass Amherst), supported by Director Harry Verenis (2,000+ apartment units sold at a prior national firm) and a broader roster of multifamily agents and sales associates. Core offerings include off-market multifamily investment sourcing, 1031 exchange advisory, leasing and tenant placement, hands-on property management, and residential sales. There is no proprietary technology platform; the firm relies on direct broker relationships, a professional website (gpgboston.com), and earned media in regional real estate publications for lead generation.

Grove Property Group earns revenue through two primary models: transaction-based commissions on the sale, purchase, and lease of multifamily and residential properties (typically a percentage of transaction value), and recurring managed-services fees from property management and ongoing leasing engagements. In 2025 the firm reported surpassing $41 million in sales volume across South Boston alone, executing multiple individual transactions ranging from $3.85M to $10M, and has collaborated with Greenway Realty on co-brokered deals. The firm is private, with no disclosed institutional funding or external capital, and its competitive positioning rests on senior broker experience, off-market deal flow, and full-service coverage of the investor and property owner lifecycle.

Name

Grove Property Group

Legal name

Citicore Properties DBA Grove Property Group

Website

https://gpgboston.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Grove Property Group is a Greater Boston-based real estate firm providing multifamily investment brokerage, leasing, property management, 1031 exchange advisory, and residential sales services to investors, property owners, and residential clients across Massachusetts and Rhode Island.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Brokerage

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311), Rental and Leasing Services (532)

SIC

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

akta.pro primary industry

Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Multifamily investment services
• Residential real estate brokerage
• Property management services
• 1031 exchange services
• Off-market deal sourcing

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Real Estate Brokerage Commissions: The firm earns transaction-based commissions on the sale and purchase of multifamily and residential properties. Fees are typically a percentage of the transaction value.
2. Property Management Services: Ongoing property management fees for services including tenant relations, maintenance coordination, and operational oversight.
3. Leasing Services: Leasing fees for assisting property owners with marketing units, tenant screening, and lease execution.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Grove Property Group is a Greater Boston-based real estate firm specializing in multifamily investment brokerage, sourcing off-market deals, and executing acquisitions and dispositions. The firm also provides leasing, property management, residential sales, and 1031 exchange advisory services to investors and property owners across Massachusetts and Rhode Island.

Product overview

Grove Property Group operates as a unified real estate service offering centered on multifamily investment, leasing, and residential services across Greater Boston. The portfolio consists of off-market multifamily investment sourcing, 1031 exchange services, leasing and tenant stabilization, property management, residential sales, and investment advisory—all delivered through a team of specialized brokers and agents. The company focuses on off-market opportunities and value-add transactions, particularly in South Boston and surrounding urban markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Off-Market Multifamily Investments Specialized service identifying and sourcing off-market multifamily investment opportunities across Greater Boston, working with investors and property owners to evaluate and execute transactions.
• 1031 Exchange Services Guidance for investors looking to defer capital gains taxes and move into their next investment property, including identifying replacement opportunities and managing exchange timelines.
• Leasing Services Assists property owners with marketing available units, tenant screening, lease execution, and ongoing tenant communication to keep properties occupied and performing.
• Property Management Hands-on property management services including tenant relations, maintenance coordination, and operational oversight to help keep properties running smoothly.
• Residential Sales Residential buying and selling services providing straightforward guidance and local market expertise to help clients make confident decisions in the Greater Boston market.
• Investment Advisory Strategic multifamily investment advisory services leveraging market knowledge and a disciplined approach for investors and property owners.

Quantifiable outcome

• $41M+ in South Boston sales volume in 2025
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Greenway RealtyminorStrategic or Co-development Partner · 1 January 2024Grove Property Group collaborated with Greenway Realty to complete the sale of a 10-unit multifamily property for $4.725 million. This collaboration demonstrates the firm's ability to work with other real estate firms on transaction execution.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Compass: Technology-enabled residential real estate brokerage with significant presence in Boston. Compass competes with Grove's residential sales and leasing arm, particularly in urban Boston submarkets.
• Marcus & Millichap: National commercial real estate investment sales firm with a strong multifamily focus. Ryan Quinn began his career at Marcus & Millichap in 2017, and the firm competes directly with Grove in the multifamily investment brokerage space in Greater Boston.
• Coldwell Banker Residential Brokerage: Established residential real estate franchise with deep Boston presence. Competes with Grove's residential sales and leasing business across Greater Boston neighborhoods.
• Berkshire Hathaway HomeServices: National residential real estate franchise network. Competes with Grove's residential sales, leasing, and buyer/seller representation business in the Boston metro area.

Broad incumbents

• CBRE: Global commercial real estate services firm offering investment sales, leasing, and property management across all asset classes including multifamily. CBRE competes with Grove across multifamily investment and capital markets transactions in the Greater Boston market.
• Colliers: Global real estate services and investment management firm with multifamily brokerage, property management, and advisory services. Colliers competes with Grove across multifamily investment transactions and management in Boston.
• JLL (Jones Lang LaSalle): Global real estate services firm providing investment sales, leasing, property management, and advisory services. JLL's multifamily capital markets team competes with Grove for Greater Boston multifamily investment mandates.
• Newmark Group: Commercial real estate advisory and services firm with multifamily capital markets capabilities. Newmark competes with Grove in multifamily investment sales and investment advisory in Greater Boston.

Regional players

• Boston Realty Advisors: Boston-based commercial real estate firm specializing in investment sales, leasing, and capital markets for multifamily and mixed-use properties. A direct regional competitor in Grove's core Greater Boston multifamily investment niche.
• Campion & Company: Boston-focused commercial real estate brokerage specializing in multifamily, mixed-use, and development properties. A regional peer competing with Grove for Greater Boston multifamily investment mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/citicore-properties-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Grove Property Group