The DSF Group Acquires Lowell, MA Multifamily From Candor Realty For $25.9M

The multifamily property located at 1250 & 1260 Westford Street in Lowell, MA has been sold for a total of $25,900,000. The property spans a total area of 115,316 square feet, resulting in a price per square foot of $224.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,900,000
• Address: 1250 & 1260 Westford Street, Lowell, MA
• Market: Lowell, MA

The buyer of the property is The DSF Group, while the seller is Candor Realty. The deal was facilitated by brokers Samuel Finkler, Audley Clarke, and Andrew Hyans from TrueRate Services.

According to the broker, this sale presents a high-upside value-add opportunity in an upward trending submarket. The sellers were able to capitalize on a 23% increase in value over just a 12-month holding period. The transaction involved a completely as-is sale, with a large non-refundable contract deposit and a 30-day closing period. The property was sold at a day one 4.25% cap rate.