999 Worcester Street, Wellesley, MA
Product Type
Retail
Strategy
Mark-to-Market
Date Purchased
June 2018
Square Feet
5,878
Acquisition / Sale Price
$2.6MM / $4.8MM
Investor IRR
82.3%
Equity Multiple
2.51x
Hold Period
~1.5 years
Investment Overview
Arris’ first retail disposition. 999 Worcester Street was acquired for $2.6mm in June 2018 and sold for $4.8mm in December 2019 —an approximately 85% increase in sale price, delivering a net investor IRR of 82.3% and a 2.51x equity multiple in roughly 18 months.
A full investment-overview and value-creation narrative for this asset is available upon request.