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News:
Owners Developers & Managers
Posted: August 16, 2024
Pierce of Marcus & Millichap facilitates $18.9 million portfolio sale in Southbridge and Worcester, Mass.
Worcester, MA Marcus & Millichap has completed the sale of a 196-unit mixed-use portfolio in Southbridge and Worcester, Mass. The portfolio sold for $18.9 million.
“The seller had been in the business for over 30 years, and we went to market with both portfolios, ultimately securing an investor group interested in acquiring the seller’s entire portfolio,” said Matthew Pierce, first vice president of investments in Marcus & Millichap’s Boston office. Pierce had the exclusive listing to market the property on behalf of the seller, a local private investor, and procured the buyer, a private LLC.
The Southbridge portfolio consists of 157 apartment units across 26 properties, and the Worcester portfolio includes 37 apartments and two retail units across seven properties.
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