Highland House apartment complex sells to Calif. firm for $22M
Photo | LoopNet
These luxury apartments on Suburban Road sold for $22.4 million.
An eight-story apartment building at 5 Suburban Road in Worcester, known as the Highland House, has sold for $22.4 million to California property management company Trinity Property Consultants, according to the Worcester South District Registry of Deeds.
Located off Highland Street across from Doherty Memorial High School, the building includes roughly 91,000 square feet of living area across 93 units, per the Worcester assessors’ data.
The property was sold by Highland Association Worcester No. 1 LLC, registered to its CFO, a Paxton accountant named Gerald Kashuk.
The sales price values the property at $240,860 per unit.
Kashuk’s company has owned the property since at least 2001 when it was transferred from a former registered agent of the corporation for $100. The City of Worcester has assessed the property at $11.6 million.
Trinity manages various housing types, including student housing communities and luxury apartments. The Suburban Road building will be one of Trinity’s ReNew locations, which include clubhouses, pools, and fitness spaces, according to its website.
WBJ Web Partners
Most Recent
Most Recent
0 Comments