California real estate investment firm buys Worcester complex for $10M
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Greenwood Commons in Worcester
A corporation registered at the address of Irvine, California property management firm, Trinity Property Consultants and investment firm, FPA Multifamily, purchased Greenwood Commons, a Worcester apartment complex for $10 million.
The deal closed on Thursday according to the Worcester District Registry of Deeds. The City of Worcester assesses the property at $7.6 million.
Greenwood Commons, at 328 Greenwood St., is a four-building, 72-unit apartment complex that was built in 1965.
The seller was Jamar Acquisitions LLC, affiliated with Paragon Properties of Needham. The property was sold in 2007 for $4 million.
Trinity Property Consultants is affiliated with FPA Multifamily, a San Francisco based real estate giant that owns 700 buildings valued at over $20 billion, according to its website.
The company purchased the Highland House apartment complex in Worcester for $22.4 million in October 2021. It purchased the ReNew Tatnuck Square apartment complex in Worcester in 2020 for $16 million and then sold it in August for $27 million to Arrowpoint Properties.
The company also owns and operates Arrive Westborough at 297 Turnpike Road, the former Fountainhead apartments, which it bought in 2019 for $130 million, and Arrive Lunenburg, which it bought in April for $76 million.
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