Real estate developer Michael Ermani has added two more properties to his portfolio, with multi-family purchases in Worcester and Grafton. Ermani, founder of Premier Property Management & Investments, purchased 169 and 171 Mill St. in Worcester for $5 million on Sep. 22, according to Worcester District Registry of Deeds records. Ermani said he plans on […]
Real estate developer Michael Ermani has added two more properties to his portfolio, with multi-family purchases in Worcester and Grafton.
Ermani, founder of Premier Property Management & Investments, purchased 169 and 171 Mill St. in Worcester for $5 million on Sep. 22, according to Worcester District Registry of Deeds records.
Ermani said he plans on demolishing the one-story house at 169 Mill St., replacing it with a building similar to the existing apartment building at 171 Mill St., a three-story building.
Worcester property developer Michael Ermani. PHOTO COURTESY OF MICHAEL ERMANI
The two sites received a combined 2025 tax assessment value of $3.03 million. Jimmy Kalogeropoulos of RE/MAX Partners in Worcester brokered the transaction.
The Mill Street properties were purchased from Mill Street Apartments LLC, a Dover-based entity managed by Bechara Fren. The purchase follows Ermani’s August purchase of 267 Mill St. from Fren. That property was the site of a 2022 roof collapse, which sparked a legal battle between residents and Fren but has since been extensively renovated.
Ermani added another residential property to his holdings on Oct. 8, with the $3.35-million purchase of 94 and 100 Upton St. in Grafton. The two sites contain a total of 19 units spread across three buildings.
94-100 Upton Street in Grafton. PHOTO COURTESY OF PREMIER PROPERTY MANAGEMENT & INVESTMENTS.
Ermani purchased the Grafton properties from an entity managed by Peter Maloney of Southborough. The two parcels received a 2025 tax assessment value of $2.33 million, according to Town of Grafton property records.
Ermani told WBJ he has several more residential transactions in the pipeline, which he hopes to complete this year, adding to the Mill Street apartment complex purchase in August and his purchase of three Worcester apartment buildings in June. Ermani said he's acquired 105 apartment units since August.
Ermani sold a Framingham apartment building for $7.5 million in April, saying it was part of his strategy to focus his portfolio on Greater Worcester.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
