FPA Multifamily Sells 328 Greenwood Street Multifamily In Worcester For $14 Million

The property involved in the transaction is a multifamily asset located at 328 Greenwood Street in Worcester, MA, known as Flats at Merrill Pond. The sale price was $14,000,000, encompassing 72 units with a price per unit of $194,444. The total square footage of the property is 64,032, resulting in a price per square foot of $218.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $14,000,000
• Units: 72
• Price Per Unit: $194,444
• Square Footage: 64,032
• Price Per Square Foot: $218
• Seller: FPA Multifamily
• Seller's Representative: Christopher Sower, Bruce Lusa, Andrew Herald, Ryan Mowery, An Nguyen, Julie Regan & Mary VanNatta - Cushman & Wakefield

FPA Multifamily, LLC is a real estate operating company focused on the acquisition, renovation, and management of both core plus and workforce housing apartment communities. Founded in 1985, FPA has owned over 170,000 apartment units valued at approximately $30 billion. The company is currently investing through its value-add focused FPA Apartment Opportunity Fund IX and its core-plus focused FPA Core Plus Fund VI. FPA is headquartered in San Francisco and has offices in multiple cities including Atlanta, Chicago, Denver, Houston, Irvine, and Washington DC.