An affiliate of Watertown-based SMC Management has acquired the 155-unit Washington Mills apartment complex in Lawrence for $17.85 million from MC Lofts LLC of Charlotte, N.C.

Built in 1886, the mill complex was converted into a Class A apartment building in 2007.

The six-story mill building consists of a ground-floor leasing office, first and second floor amenity space and apartments on floors two through six. The building consists of steel and heavy timber framing with exposed brick walls, original wood beams, 14- to 30-foot ceilings, oversized nine-foot arched windows and more than 25 floor plans.

Units offer polished concrete flooring throughout, pendant and track lighting, wood cabinets, stainless steel sinks with disposal, Whirlpool appliances, electric glass-top self-cleaning ranges, built-in microwaves with exhausts, dishwashers, full bathroom vanities, in-unit washers and dryers and walk-in closets. Community amenities include a resident lounge, kitchen area, billiards room and fitness center.

CBRE/NE’s Michael Prakken and Sam Dylag arranged the acquisition financing on behalf of Freddie Mac.

CBRE/NE’s multi-housing experts Simon Butler, vice chairman/partner, and Biria St. John, vice chairman/partner, exclusively represented the seller.

“This is a high-quality asset that the buyer was able to purchase at below replacement cost since historic tax credits were used to capitalize the redevelopment in 2007,” Butler said in a statement.

SMC Management Corp. has owned and operated more than 8,000 apartments and 500,000 square feet of commercial space since it was founded by Stephen Chapman in 1978.