Real estate investment firm ViceRoy Capital Management has bought a 149-unit, 11-building mixed use portfolio in downtown Peabody for $17.2 million.
The transaction was powered by a $14.48 million mortgage from Brookline Bank, according to records in the Essex South Registry of Deeds.
The Lynn Daily Item first reported the sale.
The buildings included a mix of retail storefronts with walk-up apartments above, and small apartment buildings on a downtown side street.
ViceRoy specializes in multifamily buildings, medical offices and neighborhood shopping centers in Eastern Massachusetts. The firm told the Item it plans to spend up to $200,000 over two years to finish upgrades to the buildings’ HVAC systems and common areas, which were started by the buildings’ previous owners.