WORCESTER, MA – Alta on the Row, a newly built 370-unit luxury apartment community in Worcester, has been sold for $157 million to an entity affiliated with Morgan Stanley’s Eaton Vance Real Estate Investment Group, according to a report by the Worcester Business Journal.
The high-profile transaction, finalized on October 10, marks one of the largest multifamily property sales in Central Massachusetts this year. The seller, Wood Partners, a national real estate development firm based in Atlanta, completed the development in 2024, bringing a significant infusion of modern, market-rate housing to downtown Worcester.
The development, located near Worcester’s Union Station, features four stories of residential units atop a structured parking garage. The community was designed to offer high-end amenities, modern interiors, and convenient access to public transportation and local attractions — making it a cornerstone of Worcester’s urban revitalization.
Who’s Who in the Deal
Wood Partners, a well-established multifamily developer with a national footprint, originally broke ground on Alta on the Row in 2022. The company is known for developing upscale residential communities in urban markets, including previous projects in the Greater Boston area.
The buyer, Eaton Vance Real Estate Investment Group, is part of Morgan Stanley Investment Management, a global investment powerhouse with a growing focus on multifamily and mixed-use real estate assets. The firm targets high-quality, income-producing properties in strong growth markets.
This acquisition adds a prominent Central Massachusetts asset to Eaton Vance’s expanding portfolio and reflects growing investor interest in Worcester’s real estate market, which has benefited from regional economic growth, housing demand, and infrastructure improvements.
