In a significant real estate transaction signaling continued investor interest in Central Massachusetts, The Micozzi Companies, a Boston-based real estate firm, has acquired the Renew Worcester apartment complex for $25.73 million, according to a report by the Worcester Business Journal (WBJ).
The eight-story, 92-unit apartment building, located at 5 Suburban Drive, was purchased from an entity affiliated with FPA Multifamily, a San Francisco-based private real estate investment firm. The deal was finalized on Wednesday, as per records from the Worcester District Registry of Deeds and WBJ’s report.
Built in 1965, Renew Worcester is situated near Doherty Memorial High School and features 63 one-bedroom and 29 two-bedroom units. WBJ reported that building amenities include balconies, a business center, and walk-in closets.
