Real Estate

Edmands House Apartments Sold for $22 Million

The new owners want to increase the number of affordable units in the Nobscot apartment complex.

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Beacon Communities purchased the Edmands House Apartments for $22 million on May 29, reported the Worcester Business Journal.

The seller was Edmands House Apartments Associates. Massachusetts Registry of Deeds lists Edmands House Apartments Associates run by Helen A McCarthy a Palm Beach, Florida resident.

Edmands House Apartments is located in the Nobscot section of Framingham. The Apartments are in two six-story buildings. There are 102 one-bedroom and 88 two-bedroom apartments.

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The latest assessed value for the apartment complex, according to the Town of Framingham's assessor's database was $14.1 million.

Of the 190 units, 112 are covered under a Section 8 contract.

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CBRE/NE said Beacon will increase the number of affordable units in the complex, reported the Worcester Business Journal.

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