Northmarq Sale Illustrates Demand for Southern New Hampshire Multifamily
Northmarq’s Multifamily Investment Sales team led by Brett Curtis, Chris Doerr, Alix Curtin and Chris Norton, in collaboration with its Boston Debt + Equity team led by Kevin Sykes, Jeffrey Munoz and Ed Riekstins, completed the $24.05-million sale and $17.745-million acquisition financing of The Meridian at Bedford, an 85-unit apartment community located at 66 Hawthorne Ave. in Bedford, NH.
The Northmarq team represented the seller, a private investor based in New Hampshire. The buyer was Arrowpoint Properties, LLC.
“Successfully bringing The Meridian at Bedford to a close at a record-breaking price per unit for sub-200-unit multifamily transactions in the area highlights both the strength of the asset and the momentum we’re currently seeing across New Hampshire,” Curtis said. “The seller did a phenomenal job repositioning and renovating the property, which drove significant buyer interest and allowed us to achieve premium pricing. We expect demand for well-positioned multifamily properties in Southern New Hampshire to continue to grow, especially as rent control remains a possibility in Massachusetts.”
Northmarq’s D+E team arranged the permanent-fixed financing on behalf of Arrowpoint through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a five-year term.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout