The properties are the 215,000-sf Bancroft Commons and the83,000-sf, Park Plaza. Both are mid-rise residential/retail spaceswith 188 and 90 residential units, respectively. Also involved inthe sale are the Preservation Worcester Building, a mid-rise officebuilding with 16,000 sf and a 13,000-sf parking lot located on514-522 Main St.

"We feel that there is a great upside to this deal," Taran T.Grigsby, attorney for the Mayo Group, tells GlobeSt.com. "Theseassets are undervalued."

The Mayo Group is relatively new to the Worcester market, butcontrols nearly 1,400 residential units in the greater Boston areaas well as approximately 1 million sf of commercial space. The firmrecently purchased two buildings in Boston--211 Congress St., a70%-occupied office building, and 121 Portland St., a vacant NorthStation building with "no concrete plans," according toGrigsby.