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Boston & New England  + Metro Boston  + Apartments  | 

33-Building Suburban MA Portfolio Sells to Investor Group

Marcus & Millichap closed the sale of a 196-unit, 33-building mixed-use portfolio in Southbridge and Worcester, MA. 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 VP of investments in Marcus & Millichap’s Boston office. Pierce marketed 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. The Worcester portfolio includes 37 apartments and two retail units across seven properties.

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Marcus & Millichap's Pierce

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition