Micozzi Buys Apartments for Nearly $17M

CLINTON, MA-A pair of multifamily properties in this central Massachusetts community has been sold for a total consideration of $16.5 million, as affiliates of Micozzi Management Inc. acquire Camelot Apartments and Towne Lyne Village. The 193 units were sold by Camelot Management Corp. and Clinton Management Corp.

“These well-maintained garden apartments are a perfect fit for Micozzi Management,” says NAI Hunneman Commercial Co. EVP Robert Tito, who brokered the transaction. The firm already owns more than 500 apartments in several nearby communities such as Charlton, Spencer and Westfield, Tito explains, and he says the latest purchase is an opportunity for the firm “to further solidify their role as a major player in the area.”

The Camelot Apartments are at 1021 Main St., while Towne Lyne Village is at 290 Berlin St. on the border of the town of Berlin. The property offers a mix of studio and one- and two-bedroom units starting at $700 per month that have fully applianced kitchens, wall-to-wall carpeting and high-speed Internet capabilities. Amenities for the five-building complex include laundry facilities, an outdoor pool and on-site storage. The nearby Camelot Apartments offers similar unit styles and features, with rents running from $600 to $900 per month. Both properties are strategically located close to major roadways including Interstates 290 and 495.