Lawrence real estate firm expands Worcester portfolio, purchases Mill Street apartment complex for $10.2M
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A three-building apartment complex on Mill Street in Worcester was sold for $10.15 million to a Lawrence-based firm.
A Lawrence-based real estate firm is growing its presence in Worcester, purchasing a 54-unit apartment complex on Mill Street for $10.15 million.
Tatnuck Brook Apartments, a three-building apartment community located at 556-560 Mill St., was sold in a deal finalized on Monday, according to Worcester District Registry of Deeds records.
The property was purchased by an entity managed by Arrowpoint Properties, a real estate investment company based in Lawrence. In Worcester, Arrowpoint bought the former Goldthwaite Manor Apartments in December 2022 and the former ReNew Tatnuck Square apartments in August 2022. In total, the company owns 10 apartment complexes across the state.
The Tatnuck Brook Apartments were sold by the Chase Family Trust of Worcester.
Constructed in 1973, the complex features 21 one-bedroom apartments and 33 two-bedroom apartments. The complex had an occupancy rate of 96% as of April 1, according to a property brochure produced by Chicago-based real estate firm Cushman & Wakefield, who represented the seller in this transaction.
The last time the property sold was in November 1986 for a price of $1.24 million, according to registry records.
The 2.13-acre property was given a tax assessment value of $8.02 million in 2024, according to City of Worcester property records.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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