Updated Oct 6, 2025
Micozzi Companies Acquires 92-Unit Renew Worcester Apartment Complex For $25.73M From FPA Multifamily
5 Suburban Road
$25,730,000
Units
92
Asset Type
MultiFamily
Closing
Oct 5, 2025
About this deal
AI
The property asset involved in the transaction is a 92-unit multifamily apartment complex located at 5 Suburban Road, Worcester, MA. The sale price for the property was $25,730,000, equating to a price per unit of $279,674. This acquisition adds to Micozzi Companies' portfolio within the Central Massachusetts multifamily market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $25,730,000
- Units: 92
- Buyer: Micozzi Companies
- Seller: Gregory A. Fowler - FPA Multifamily
The deal reflects a $3 million gain for FPA Multifamily since 2021. Micozzi Companies is based in Boston and continues to target key areas in Central Massachusetts due to strong regional housing demand.
On the Map
$25,730,000
MultiFamily
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Worcester MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93