Spencer apartments sell for $3.65M
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Crestview Gardens in Spencer
An apartment complex on Route 9 in Spencer on the western edge of the town center has sold for $3.65 million to a major Worcester landlord.
Baystate Investment Fund, run by Edward Murphy, bought the seven-building complex with more than 30 units from a limited liability corporation registered to Neil and Susan Rivers of Spencer. The deal closed Dec. 31.
The complex, called Crestview Gardens, adds to Murphy's growing portfolio, which in the past year and a half has included $2.2 million for a portfolio of multifamily properties in Northbridge, Southbridge and Webster, nearly $1.6 million for a building that includes Uxbridge House of Pizza and other businesses, and $1.2 million for a mixed-use building on Millbury Street just off Kelley Square. Murphy also runs 7 Hills Property Management and weRENTcentralmass and owns a number of Worcester properties.
The Crestview Gardens property, which spans roughly six acres, was last assessed by the Town of Spencer at just under $2.9 million.
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