UMass Memorial sells apartments next to Memorial Campus for $2.7M
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The Oak Avenue apartments, in the foreground, stand immediately next to UMass Memorial Medical Center's Memorial Campus in Worcester.
UMass Memorial Medical Center has sold a trio of apartment buildings behind its Memorial Campus in Worcester to a property management and investment company with an office in Worcester.
The $2.65 million sale to Micozzi Management, which closed Aug. 26, includes 44 apartment units, according to city records.
The apartments were each built in 1969, while a new medical building, the Peter H. Levine Ambulatory Center, went up next door at 33 Oak Ave. in 1992. The 48,000-square-foot office building, which is connected to the hospital by a skybridge over Kendall Street, was not part of the transaction. UMass Memorial said in a statement it sold the apartments because they were not part of its core health-focused work.
The 1.7-acre site at 36, 38 and 40 Oak Ave. was last assessed by the City of Worcester at $8.4 million.
Micozzi Management, whose main offices are in Boston, has an office in Worcester and owns apartment sites in Worcester, Northborough and Charlton, according to its website.
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