The Procopio Companies has expanded the reach of Procopio Construction, the foundational construction division of the fourth-generation firm. Strengthening its commitment to third-party projects and partners, the dedicated construction services division will be led by industry veteran Al Gogolin, recently named EVP, project execution.
The redefined and growing division of the company will operate independently to provide construction management and general contracting services to third-party owners and developers, institutional investors and other real estate stakeholders.
“Procopio Construction approaches every project with the mindset of a real estate owner, because at our core, we are one,” said Gogolin. “We’re not just building structures; we’re building long-term partnerships grounded in trust, accountability and performance. This new emphasis allows us to expand that mission to a broader client base while continuing to raise the bar on quality and execution.”
Procopio Construction will continue to manage construction for The Procopio Companies’ in-house projects.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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