Watertown, Needham firms team up to buy $5M of Worcester properties, including space occupied by Brazilian bar
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A mixed-use building at 249 Lincoln St. and six other residential properties were purchased by 39 Worcester LLC, an entity managed by Archer Acquisitions of Watertown and Freedom Management of Needham.
Two Eastern Massachusetts real estate firms have teamed up to expand their portfolios in Central Massachusetts, snatching up seven Worcester residential properties for a combined $4.98 million.
The properties, containing nine buildings with an approximate total of 48 bedrooms, were purchased from Michael Kline of Newton in deals finalized on Friday, according to Worcester District Registry of Deeds records. Six of the properties were purchased directly from Kline, while one was purchased from 39 Newton Street LLC, a Newton-based entity Kline operates.
The properties were purchased by 39 Worcester LLC, an entity managed by Archer Acquisitions of Watertown and Freedom Management of Needham.
The seven properties purchased were:
- 15 Mendon St., a property featuring two buildings built in 1910 and a combined 17 bedrooms
- 15 Sterling St., a one-building property constructed around 1900, featuring 7 bedrooms
- 14 Hacker St., a property featuring a six-bedroom apartment building constructed in 1890
- 11 Winslow St., a property featuring one building with approximately 12 bedrooms, constructed in 1910
- 16 Winslow St., a two-building property built around 1900 that has a combined 12 bedrooms
- 18 Crown St., a one-building, six-bedroom property constructed in 1905
- 249 Lincoln St., a mixed-use, three-story building constructed in 1920 containing approximately 8 bedrooms and a first-story storefront that is the home of Buteco's Bar and Grill, a Brazilian-American sports bar
The properties were given a combined tax assessment valuation of $5.2 million, according to City of Worcester property records.
Archer purchased 11 Southbridge apartment buildings from Kline in June and purchased a 17-unit building in Worcester in April 2023. The company has conducted 56 real estate deals and has $38.41 million in assets under management, with a focus on multi-family properties and RV parks, according to its website.
Freedom Management is owned by Andrew Freed and Zachary Gray. Freed is a team lead of the Worcester office of Lowell-based Candor Realty while Gray is a Needham-based strength and conditioning coach. Freedom owns more than 240 rental units, according to Freed.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
EDITOR'S NOTE: This article has been updated to include the updated total amount of rental units owned by Freedom Management.
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