Lebanon Hill Housing, a 116-unit housing development for the elderly in Southbridge has been sold for $12.76 million, a year after the property was sold for $7.1 million.
The 9.5-acre property, featuring 13 buildings located at 39 Therese Ave., was sold in a deal finalized on Tuesday, according to Worcester District Registry of Deeds records.Â
The property was sold to three entities managed by Bechara Fren, the owner of dozens of multi-family properties in Central Massachusetts.
Fren purchased a multi-family apartment building at 267 Mill St. in Worcester for $5.8 million in June 2022. The building was the site of a roof collapse days later which displaced residents, leading to tenants suing Fren over damages, according to MassLive. Fren’s holdings include apartments in Leominster and Grafton. Â
The complex was sold by Lebanon Hill Apartments LLC, a Holden-based entity owned by Cristina Papalilo, who bought the property for $7.1 million in July 2023. Lebanon Hill was constructed in the 1970s and features one and two bedroom apartments.
The apartment was given a tax assessment value of $6.44 million for 2025, according to Town of Southbridge property records.Â
Jimmy Kalogeropoulos of RE/MAX Partners in Worcester represented the seller in this transaction, while Mike Jacobs and Tim Whittredge of Glickman Kovago & Jacobs in Worcester represented the buyer.Â
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.