Schochet was founded in 1973 by Jay R. Schochet, with a handful of employees under the name Federal Management Co, Inc. A recognized leader in the development of creative methods to finance and preserve affordable housing, Schochet developed almost 2,000 units of affordable housing located throughout New England. Since its inception, the firm has focused on running a seamless, integrated real estate company that leverages the synergies derived from a high level of expertise in the key disciplines of real estate development, investment, and property management.
Mr. Schochet, both pragmatic and a visionary, established the firm with core values which persist as an enduring basis of our corporate culture today -- loyalty, integrity, compassion, diversity, opportunity, persistence, determination, customer-focus, and commitment to excellence. Our business remains based on the foundation of living up to our word, treating people with respect, improving lives, and striving for excellence.
Richard J. Henken joined Schochet in 1997 as Executive Vice President of Schochet, after having been affiliated with, and an advisor to, the company for more than a decade. In 2004, he was named President and assumed the role of CEO upon Jay Schochet’s death in 2016.
Schochet property management division was originally formed to provide management services for Schochet’s developments and acquisitions, but more recently, has successfully expanded its presence managing for third parties. Today, Schochet manages approximately 5,500 apartments and 125,000 square feet of commercial space for related Schochet entities, Retirement Housing Foundation (RHF), Fenway CDC, Weld Management and The Jonathan Rose Companies.
Schochet’s relationship with Retirement Housing Foundation (RHF) began in 1983 with Jay Schochet’s involvement in the syndication of Angelus Plaza in Los Angeles, as part of RHF’s mission to create affordable housing for seniors across the US. This association was further strengthened with the acquisition of Symphony Plaza East and Symphony Plaza West, ultimately leading to Schochet’s role as RHF’s exclusive management and development agent in New England and the acquisition of 16 properties by Schochet on behalf of RHF, totaling more than 2,500 apartments.
Known for its creative and results-oriented approach, the company's development arm has successfully structured complex transactions valued at over $500 million.
The Schochet investments unit was introduced in 1980, providing expertise in acquisition and financing, and serving as the firm's investor services liaison.
Today, these entities combine to position Schochet after more than 50 years in business as a boutique real estate investment and management company specializing in affordable housing and working with a select number of partners and clients to deliver exceptional value for all stakeholders in every area from investment performance to resident satisfaction.