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The profit is higher than that of the previous year’s first quarter, which was $92 million. The company also reported a 91% increase in operating revenue from the past year’s first quarter, rising from $61 million to $117 million.
A corporation registered to Worcester lawyer Michael Angelini and his late brother sold a 29-unit apartment complex in Leominster for $2.5 million to two Franklin buyers, who collectively own the nearby Hilltop Garden apartments and a piece of the former Atlantic Union College campus in Lancaster.
The seller, Maple Manor Realty Corp., is registered to Angelini, the chairman of Worcester law firm Bowditch & Dewey and the former chairman of the Hanover Insurance Group of Worcester, and his brother Gregory Angelini, a long-time Leominster attorney who passed away in November.
The new owners of the five-building site at 227 West St., called Maple Manor, are Raymond Safi and Bechara Fren, both of Franklin, who bought the site through a limited liability corporation. The sale, which closed Dec. 7, according to the Worcester Northern Registry of Deeds, puts the value of each unit at about $86,000. The two-acre site was last assessed by the City of Leominster at just under $1.8 million.