Horse Hill Property
The property was acquired many years ago by Louis Saab, a very successful attorney and real estate investor from Lowell, MA who had acquired the property from Cornelius Kiernan, a former Massachusetts judge and political figure. This property abuts the Horse Hill Development referred to above. This parcel was completely “land locked” until its purchase by the DRLT.
Over a period of several years, the Trust made attempts to contact and negotiate with Mr. Saab about a possible purchase to no avail.
In November 2009, Peter Georges informed the Trust that he was acting as a Consultant to Louis Saab, not in his capacity as trustee of the DRLT regarding a potential purchase. In May of 2010, Mr. Georges presented an offer to the Board to purchase the 18 acres for $90,000. The Trustees took no action on the offer.
James P Hall
In a surprising turn of events, Louis Saab
died suddenly of a heart attack. David Tully
and Attorney James Hall conversed several
times about what could possibly happen to
the Horse Hill property. David Tully presented
an offer to Mr. Hall in which the DRLT would
pay $36,000 or $2,000 per acre and close as
soon as possible. The executors of the Estate
of Louis Saab accepted the offer and a check
was immediately issued to Attorney James
Hall, as escrow agent. The check was held for a period of several months pending approval of the Massachusetts Probate Court. The approval and transfer occurred on October 6, 2011.