WORCESTER, MA — ebanon Hill Housing, a 116-unit housing development for the elderly in Southbridge has been sold for $12.76 million, a year after the property was sold for $7.1 million.
The 9.5-acre property, featuring 13 buildings located at 39 Therese Ave., was sold in a deal finalized on Tuesday, according to Worcester District Registry of Deeds records.
The property was sold to three entities managed by Bechara Fren, the owner of dozens of multi-family properties in Central Massachusetts.
Fren purchased a multi-family apartment building at 267 Mill St. in Worcester for $5.8 million in June 2022. The building was the site of a roof collapse days later which displaced residents, leading to tenants suing Fren over damages, according to MassLive. Fren’s holdings include apartments in Leominster and Grafton.
The complex was sold by Lebanon Hill Apartments LLC, a Holden-based entity owned by Cristina Papalilo, who bought the property for $7.1 million in July 2023. Lebanon Hill was constructed in the 1970s and features one and two bedroom apartments.
The apartment was given a tax assessment value of $6.44 million for 2025, according to Town of Southbridge property records.
Jimmy Kalogeropoulos of RE/MAX Partners in Worcester represented the seller in this transaction, while Mike Jacobs and Tim Whittredge of Glickman Kovago & Jacobs in Worcester represented the buyer.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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