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September 2, 2022

Lawrence investor buys Worcester apartments for $27M, up from $16M two years prior

Photo | Timothy Doyle ReNew Tatnuck Square apartments in Worcester

ReNew Tatnuck Square, a 120 unit complex at 12-20 Brookside Ave. in Worcester has been sold for the second time in two years, this time to a limited liability corporation registered at the address of Lawrence real estate investors Arrowpoint Properties for $26.7 million.

The property was sold in 2020 to a California company, FPA Multifamily, for $16 million, according to the Worcester District Registry of Deeds. Prior to that sale, the property, then known as Tatnuck Arms, was last sold in 2006 for $10.5 million.

Arrowpoint Properties did not return a request for comment, but according to its website, owns multi-family properties in Lawrence, Lowell, Groveland, and Methuen. The website also lists properties that it has sold, holding the properties for an average of 37 months, for an average valuation increase of 52%. 

The 10.7 acre property is assessed by the City of Worcester for $16 million.

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