Historic block sold in Southbridge for $5.3M to Orlando investors
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Downtown Southbridge
The Whitford Building and the Edwards Block at 295 and 344 Main St. in Southbridge sold for $5.3 million to a group of Orlando investors on May 31.
The property consists of four buildings, totalling nearly 80,000 square feet with 53 apartments and 12 commercial suites, according to a listing from Northeast Private Client Group, which has an office in Newton. Northeast Private Client Group was not involved in the transaction.
The seller was South Carolina-based VTT Property Management, which bought the property in 2015 for $2.4 million.
In addition to a number of South Carolina properties, VTT has invested heavily in Nantucket and Framingham in Massachusetts, according to its website. In 2019, it sold the Sky Mark Tower in Worcester for $28.8 million.
The company specializes in the acquisition, revitalization, and management of the undervalued and distressed real estate, according to its website.
The buyer was WPS Southbridge 65 LLC, registered to Orlando-based investors Rajeev Tirur and Christopher Morgan. The pair has invested in properties around Central Massachusetts through different entities.
For example, their company, M&T Investments LLC, sold a multifamily property at 32 Greenwood St. in Gardner on May 30 for $630,000. It bought the property in 2021 for $380,000, according to the Worcester District Registry of Deeds.
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