The asset involved in this transaction is a 430-unit multifamily housing community located at 16 Laurel Street in Worcester, MA. The sale price for this property is $100,000,000, resulting in a per-unit price of $232,558. The community is positioned to benefit from long-term affordability measures through a 20-year HUD-backed HAP contract renewal.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $100,000,000
• Units: 430
• Price Per Unit: $232,558
• Buyer: Jonathan F.P. Rose - Jonathan Rose Companies
• Buyer: Richard Henken - Schochet Companies
• Address: 16 Laurel Street
• Market: Worcester, MA

Jonathan Rose Companies and Schochet Companies are the key players in this transaction, collaborating on the acquisition of Plumley Village, an affordable housing community. Their joint efforts in this deal are aimed at preserving long-term affordability for the residents through the secured HUD-backed contract.