Charlton Apartment Complex Sells For $2.5M
A Franklin-based company has purchased a multifamily development on Route 20 in Charlton for $2.5 million, according to the Worcester County Registry of Deeds.
The sale closed in November but was announced recently by CoStar, a real estate information service.
Fren Realty LLC, headed by Fren Bechara of Franklin, purchased the 36-unit property under the name Juniper Hill Apartments LLC. The seller is VTT Management Inc., a Framingham-based property development and management firm that owns rental properties in seven states, according to its website. VTT counts the Sky Mark Tower in Worcester and five complexes in Framingham among its area properties.
Ware-based Country Bank issued a $2 million mortgage to Fren Realty for the property, according to the registry.
Juniper Hill is a low-rise apartment complex that contains nine two-story buildings totaling 35,712 square feet, according to CoStar. The complex was built in 1975 and was close to full occupancy at the time of the sale. Boston-based NAI Hunneman Commercial Co. represented the seller and procured the buyer.
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