An 18-unit, townhouse-style apartment property in Spencer has been purchased by a Vermont-based firm for $4.03 million. The property, located at 0 Townhouse Court off of Route 9, sold in a deal finalized on Dec. 3 to North Hill Capital Partners, according to Worcester District Registry of Deeds records. North Hill is a Vermont-based entity […]
An 18-unit, townhouse-style apartment property in Spencer has been purchased by a Vermont-based firm for $4.03 million.
The property, located at 0 Townhouse Court off of Route 9, sold in a deal finalized on Dec. 3 to North Hill Capital Partners, according to Worcester District Registry of Deeds records. North Hill is a Vermont-based entity managed by Nicolas and Janelle Pena of Stow, Vermont.
The property was sold by an entity managed by Westborough-based Shorelight Real Estate Management.
Shorelight was represented by Matthews Real Estate Investment Services, an Arizona-based firm with a Boston office. Matthews Vice President Nick Jasinski led the transaction, according to a Dec. 24 press release from the firm.
Matthews said the sale price set a record for Spencer multifamily properties which contain less than 40 units. The property had undergone extensive renovations under Shorelights ownership, later selling for 98% of the listing price, according to the press release.
“Despite broader economic uncertainty, well-executed multifamily investments are still commanding premium pricing,” Jasinski said in the press release. “This transaction reflects how disciplined execution and strong fundamentals can drive competitive outcomes in secondary markets.”
The townhouses are spread across two wood-frame buildings, with each unit containing two bedrooms, according to real estate data service CoStar. The buildings were originally constructed in 1970.
The site received a 2026 tax assessment value of $2.02 million, according to Town of Spencer property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
