Who's Who

Chairman James Herscot founded Princeton Properties in 1973. He has built the company into a multifaceted real estate company specializing in apartments, furnished suites and hotels. His vision has allowed the executives to aggressively pursue new acquisitions, major rehabilitations and new construction. As a result of Jim's accomplishments and integrity, some of the leading financial institutions in the country have selected Princeton as their joint venture partner and have committed significant debt financing to finance Princeton's rehabilitations, acquisition and construction activities. These include General Electric Capital Corporation and Citicorp and Bank America. Currently there are 30 communities and 1 hotel located in Maine, New Hampshire and Massachusetts and totaling 4,500 apartment homes and hotel suites. Princeton has won national recognition every year since 1995. These national awards include Best Multifamily Rehab, Best Asset Turnaround, Property Manager of The Year, Best Rehab and finalist for Property Management Firm of The Year, Most Creative Financing and Best Affordable Brochure. Jim is a graduate of Phillips Exeter Academy and Harvard University.

Andrew Chaban is the Chief Executive Officer of Princeton Properties. He is considered to be one of the foremost industry experts in the field of rehabilitation and management of multifamily rental housing.

Locally, Andrew is a Board Member and Past President (2000) of the Rental Housing Association of the Greater Boston Real Estate Board, a Board Member and Public Policy Committee Member for the Home Builders Association of Massachusetts, a Member of the Builder's Association of Greater Boston, Vice President of the North East Builders Association of Massachusetts, a Trustee of the B'Nai Brith Sports Lodge, a Member of the B'Nai Brith Realty Unit and a Trustee and New Projects Co-Chair of the Irwin B. Matross Covenant House, an apartment community housing elder citizens. Andrew holds a Broker's License in Massachusetts and New Hampshire. Most recently Andrew was chosen as one of the "125 Leaders Making a Difference" by Banker and Tradesman of Boston, MA and was the recipient of the 2002 B'Nai Brith Man of the Year award.

Andrew is also very involved with the National Association of Home Builders. He is currently an Executive Committee Member, the Chairman of the State and Local Government Affairs Committee, the Vice Chairman of the Public Affairs Committee, a Member of the Federal Government Affairs Committee, a Capital Club Member and Past Chairman (2003) and a Past Multifamily Chairman (2001). He was the Chairman of the 2001 Multifamily Trends Conference and was the founding Chairman of the Housing Credit Certification Board, responsible for credentialling tax credit compliance professionals.

Princeton Properties has been awarded NAHB's Pillars of The Industry Awards in 1995, 1996, 1997, 1998, 1999, 2000, 2001 and 2002. These prestigious national awards include Best Multifamily Rehab, Best Asset Turnaround, Property Manager of The Year, and the Property Management Firm of The Year in both 2001 and 2002. The National Apartment Association recognized a Princeton property in 1999 and 2000 for its Best Rehab. Locally, the Rental Housing Association of the Greater Boston Real Estate Board recognized a Princeton property for its Community Excellence Award in 1997 and 1999.

Prior to joining Princeton, Andrew's varied experience included property management for General Investment and Development and he was Vice President and Director of Property Management for The Waterford Group, Inc. He is a cum laude graduate of Tufts University and lives in North Andover, MA.

Terence F. Flahive, President Terry Flahive joined Princeton Properties in 1987. His focus is on impacting revenue through both furnished and unfurnished leasing. Under Terry's direction, Princeton Properties has become the largest provider of furnished corporate apartments in New England. Terry is also responsible for the development of personnel and training programs. Today, Princeton employs 250 people and offers programs such as training programs involving customer service, leasing and fair housing and Employee Assistance Programs to aid employees with difficult personal issues. Currently Terry is on the Board of Directors for the Lowell Plan of Lowell, Massachusetts, a public-private partnership founded by Senator Paul Tsongas. He is chairman of the Marketing Committee with the responsibility to promote economic growth of the Greater Merrimack Valley. He is a member of the Franchise Advisory Committee of U.S. Franchise Systems, Inc. Terry is an active member of the National Society for Real Estate Finance and SuiteNet, a national corporate housing network. Terry received a B.A. from Middlebury College and a M.A. from the University of Massachusetts.

Howard Reef joined Princeton Properties in 1989. He has been responsible for the acquisition, deal structuring and related financing of approximately 4,000 apartment units with an aggregate value of approximately $180,000,000. Approximately one-half of these acquisitions involved the establishment of affordable housing, the issuance of tax-exempt bond financing and the related sale of tax credits. He also was responsible for raising approximately $8,500,000 of capital through private placement offerings. Howard is a member of the Real Estate Finance Association of Massachusetts, the National Association of Corporate Real Estate Executives and the Financial Executives' Institute. He received a B.S.B.A. degree in Accounting and Finance from Boston University.

Dayna M. Thomson joined Princeton Properties in 1995. She oversees the management of Princeton's portfolio of 30 apartment communities and 1 hotel. Dayna supervises capital improvement planning and contractor negotiations and coordination. She is responsible for proposal writing and participates in new business development. Dayna is the Education Committee Chairman for the Rental Housing Association of the Greater Boston Real Estate Board. She serves as Co-Chair of the Multifamily Council of the Builders Association of Greater Boston, an affiliate of the National Association of Home Builders. Dayna is also a member of the National and New England Affordable Housing Management Association. She teaches the National Apartment Association's Certified Apartment Manager designation course. Dayna received her B.A. from the University of Minnesota.

Claire Collins, Vice President of Leasing and Education, joined Princeton Properties in 1989. She oversees the leasing operations of 30 apartment communities in three states. Claire is very involved in market analysis, development of marketing promotions and design and implementation of in-house training programs. She has directed the lease-up, repositioning and marketing of 15 communities acquired and subsequently rehabilitated by Princeton. Claire's involvement within the multifamily housing industry includes the National Apartment Association's Education Committee (Region II Representative), teaching the National Apartment Leasing Professional (NALP) course, and serving as a facilitator at several national industry related trade shows. Claire received her B.A. from Emory University in Atlanta, Georgia.

Daniel Endyke, Vice President, joined Princeton Properties in 1993. He works closely with the Chairman, CEO, President and project managers in rehabilitating and repositioning existing multifamily communities. Dan is responsible for all new construction, this includes the acquisition and permitting of land. He directs the development of the site plan; working closely with site engineers, architects and lending institutions to ensure properties are built with quality, on schedule and within budget. Dan is currently focused on new developments in Bedford, Chelmsford, Dracut, Worcester and Billerica Massachusetts. Dan graduated from Assumption College with a B.A. in Management.