North Hill Capital Partner’s website says it’s focused on acquiring, preserving, and improving affordable multifamily properties in New England.
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A Vermont-based real estate firm has purchased an 86-unit senior living complex in Fitchburg for $7.2 million.
The property containing Anwelt Heritage Apartments was purchased by an entity managed by Stowe-based North Hill Capital Partners in a deal finalized on March 5, according to the Worcester North Registry of Deeds.
The income-restricted property consists of four floors, containing one- and two-bedroom apartments between 656 and 1,200 square feet. Of the 86 units, 60 are rented at or below 60% of the area median income, and 10 are rented at or below 30%.
North Hill Capital Partner’s website says it’s focused on acquiring, preserving, and improving affordable multifamily properties in New England.
The property, situated at 1 Oak Hill Road, was sold by a Worcester-based entity managed by Robert Ansin. His firm, MassInnovation, developed the former shoe factory dating back to the 1880s into senior housing, according to Anwelt Heritage’s website. He is one of the co-founders of Rev Clinics, a cannabis firm at the site which was once one of the fastest-growing companies in the country before its 2025 financial collapse.
Ansin acquired the property from the family who ran the Anwelt Shoe Co. factory at the site, according to the Worcester Telegram & Gazette. Anwelt Shoe operated there from 1966 to 1988.
The building is divided into two separate condominium units, with North Hill’s purchase only covering the third of the building containing the apartments.
The property is managed by Norwood-based HallKeen Management. HalKeen didn’t return a message from WBJ asking if the ownership change had an impact on its management of the site; Anwelt Heritage is still listed in HallKeen’s portfolio on its website.
The rest of the building remains under the ownership of New Lake Capital Partners, a Connecticut-based firm that purchased the cultivation and manufacturing facility from Rev Clinics as part of a buy-leaseback agreement, prior to Rev’s collapse.
The part of 1 Oak Hill Road now owned by North Hill received a 2026 assessment of $6.73 million, according to City of Fitchburg property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
