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Peabody Retail and Apartment Portfolio Trades for $17M

Aug 29, 2019 | Reprints | Unlock Link

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Image courtesy of Google Maps.

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.

B&T Daily