Milford apartments sold for $6.8 million
The Laurel Hill apartments in Milford have been sold to the Boston-based real estate company that already owns Woodland Heights, the town’s largest apartment complex.
The 96-unit Laurel Hill was sold in June for $6.8 million to Mayo Nine, a limited liability corporation that is part of the Mayo Group. The sale price is more than twice its appraised value, and translates into almost $71,000 per apartment. Laurel Hill was previously owned by two Massachusetts businessmen.
The Mayo Group owns and manages real estate in Massachusetts and New Hampshire, including 21 residential and 13 commercial rental complexes in Boston and Lynn, Mass., and two malls in Keene.