United Multi Family (UMF) brokered the sale of an 8 unit apartment building at 16 Westford St., for $1.25 million. The transaction was handled by Richard Cawley and Jason Braun of the New England office. The brick residences were built in the 1960s and were sold by Fred DiStephano to WBTC Associates LLC.
Financing was provided by Wainwright Bank & Trust. The CAP rate at the time of sale was 5.13% with the property having a gross annual income of $105,600.
In addition UMF brokered the sale of an 18 unit apartment building at 2 Delldale St., Worcester, Mass. for $1.25 million. Cawley and Braun handled this transaction.
The wood frame with vinyl siding residences were built in 1988 and sold by 2 Delldale Street LLC to CMV Partners LLC with financing provided by Webster 5. The CAP rate at the time of sale was 9.62% with the property having a gross annual income of $182,448.
UMF is one of the nations fastest growing RE firms specializing in the sale of multifamily/apartment buildings.