The Administration Building
Abutting the campus of the Umass Lowell campus, this property was the mill complex’s iconic administration building. Alta acquired this well-located, historic mill property in Lowell, Massachusetts at a discount to replacement cost. This beautiful stand-alone building on the Merrimac River was completely renovated and leased to Umass Lowell, who used the building for their Office of Advancement.
The strategy was to restore this historic mill property and position it for a potential sale. The Administration Building, along with The Residences at Perkins Park, The Lofts at Perkins Park, the Ames Parking Garage and an adjacent developable lot, were acquired by UMass Lowell in 2016 for $61.5 million.