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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