FRAMINGHAM, Mass. — A 56-unit apartment complex in Framingham has changed hands for $15.1 million, three years after its Newton-based owner acquired and upgraded the property, according to reporting by the Worcester Business Journal.
As reported by WBJ, Arlington Commons, located at 77-79 Arlington St., was sold in a deal finalized Thursday, based on records from the Middlesex South District Registry of Deeds. The buyer is an entity managed by Karim Jouki of Franklin.
The seller, Arx Urban, purchased the property in 2023 for $13.62 million, according to registry records cited by WBJ. That transaction also included 93 Arlington St., a nearby parcel with a two-family residential building.
Following the acquisition, Arx Urban completed capital improvements at Arlington Commons, including a utility audit and security upgrades, according to the firm’s website, WBJ reported.
Built in 1970, the two-building complex consists of market-rate studio, one-bedroom, and two-bedroom apartments. The property is located less than a half mile from the Framingham MBTA Commuter Rail station.
The site’s 2025 tax assessment was $9.98 million, according to City of Framingham property records referenced by WBJ.
According to WBJ, Jouki was also involved in other recent real estate transactions, including the sale of a three-building medical office park in Milford for $4.13 million in September 2025 and a 59-unit apartment building in Norwich, Connecticut, the following month.
The Arlington Commons sale reflects continued investor activity in MetroWest multifamily properties, even as values and investment strategies shift across the broader commercial real estate market, WBJ reported.
