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Micozzi Companies Acquires 92-Unit Renew Worcester Apartment Complex For $25.73M From FPA Multifamily

Property Image
SOLD
$25,730,000

Massachusetts

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MultiFamily
Sold 10/05/2025
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Property Image
SOLD

Micozzi Companies Acquires 92-Unit Renew Worcester Apartment Complex For $25.73M From FPA Multifamily

5 Suburban Road

See Similar Deals
MultiFamily
Sold 10/05/2025
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Gregory A. Fowler
FPA Multifamily
Gregory A. Fowler
6 deals$490.5M volume
SELLER

Details

SOLD
IMAGE: Gregory A. Fowler DATE: 10/05/2025 ADDRESS: 5 Suburban Road MARKET: Worcester, MA ASSET TYPE: MultiFamily BUYER: Micozzi Companies SELLER: Gregory A. Fowler - FPA Multifamily SALE PRICE: $25,730,000 UNITS: 92 ~ PPU: $279,674 NOTE: Boston-based Micozzi Companies has acquired the 92-unit Renew Worcester apartment complex at 5 Suburban Drive for $25.73 million from FPA Multifamily, marking a $3 million gain for the seller since 2021. Why it matters: The deal highlights Micozzi’s continued expansion in Central Massachusetts’ multifamily market, where Worcester remains a key target amid strong regional housing demand.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$91,413.25
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