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June 26, 2024

Watertown real estate firm buys 11 Southbridge apartment properties for $8M

A three-story apartment building Image | Courtesy of Google Maps 114 Pine St., one of 11 Southbridge properties purchased by Watertown-based Archer Acquisitions

A Watertown-based real estate firm has purchased 11 Southbridge-based apartment buildings for a combined $7.95 million. 

Archer Acquisitions, a firm focused on multi-family buildings and RV parks, purchased the properties in five separate deals closed on Monday, according to Worcester District Registry of Deeds records. 

Archer purchased the following properties:

  • 88 Cross St., 664-666 Main Street, 114-116 Charlton St., 172-174 Charlton St., 69-73 Cross St., from GJD LLC of Newton for $2.96 million.
  • 7-21 Union St. from Michael Kline for $1.59 million.
  • 71-75 West St. and 32-42 Worcester St., from 39 Newton Street LLC, a Newton-based firm, for $1.53 million.
  • 99 Cross St. from Wheeler LLC, a Newton-based firm, for $583,461.
  • 114 Pine St. and 573 Main St. from 12-14 Tirrell Street LLC, a Newton-based firm, for $1.3 million.

All of these properties were owned by entities tied to Kline, a resident of Newton. 

In total, the properties have a combined occupancy of 85 and a 2024 tax assessment value of $5.96 million, according to City of Southbridge property records.

Archer specializes in multi-family properties that fall into the Class B or Class C type, according to the firm’s website. 

Class B properties are buildings featuring high-quality construction but require renovation, while Class C properties are buildings in need of significant physical upgrades, according to the website of GowerCrowd, a California-based marketing firm focusing on the real estate industry. 

Archer’s purchase follows in the wake of the May purchase of two Southbridge apartments by a Florida-based firm

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