Millbury luxury apartments sold for $17.5M

A 112-unit luxury apartment complex in a renovated Millbury factory has been sold to a Maryland property investment firm for $17.5 million.

Bethesda, Md.,-based Charger Ventures, via four different business entities each controlling a different percentage of Cordis Mills, closed on the sale Thursday, according to state property and business records. 

Charger Ventures founder Jessie Henry declined comment when reached by phone Thursday. 

Cordis Mills Owner LLC, Cordis Mills TIC II Owner LLC, Cordis Mills TIC III Owner LLC, and Cordis Mills TIC IV Owner LLC now control the building and respectively own 36.34%, 34.04%, 10.64% and 18.98% of the property, according to a deed on file with the Worcester District Registry of Deeds. The sale was brokered by Colliers International.

The 65 Canal St. mill was built in 1970 and was formerly the Cordis Cotton Mill. It was redeveloped in 2004 by White Development Corp., the development arm of Auburn-based R.H. White Construction. 

White Development purchased the property for $950,000 in 2002 and secured about $10 million in financing for the project. 

The project includes a fitness center, heated swimming pool, free Wi-Fi, and 18-foot tall ceilings. 

The property was last assessed in 2017 for $10 million.