REBusinessOnline

New Hampshire

NorthMarq Capital Arranges $4.1M in Refinancing for Multifamily Property in New Hampshire

HUDSON, N.H. — NorthMarq Capital has arranged $4.1 million in refinancing for a multifamily property located in Hudson. The financing features a 10-year term on a 25-year amortization schedule. Mark Whelan of NorthMarq secured the financing through a regional bank for the undisclosed borrower. The multifamily property features 36 apartment units.

October 9, 2017

Valencia Realty Capital Arranges $13M Acquisition Financing for Assisted Living Community in New Hampshire

RYE, N.H. — Valencia Realty Capital has arranged $13 million in financing for the $11 million acquisition of an assisted living community located at 295 Lafayette Road in Rye. The borrower and buyer is Murfreesboro, Tenn.-based National Health Investors Inc. The financing has a total capitalization of $13 million composed of a $10 million senior debt facility coupled with $3 million of equity. Built in 2013, the 40-unit assisted living community is devoted to individuals with memory..

October 6, 2017

Chatham Lodging Purchases 131-Room Hilton Garden Inn in Portsmouth, New Hampshire

PORTSMOUTH, N.H. — Chatham Lodging Trust has acquired Hilton Garden Inn Portsmouth Downtown for $43.5 million, or $332,000 per room. Located at 100 High St. in Portsmouth, the 131-room hotel opened in 2006 and recently underwent a full renovation. Island Hospitality Management will manage the hotel. The name of the seller was not released.

September 22, 2017

Cornerstone Realty Capital Arranges $37.7M Construction Loan for Apartment Community in New Hampshire

SALEM, N.H. — Cornerstone Realty Capital has arranged $37.7 million in financing for The Dolben Co. for the development of an apartment community in Salem. The loan features an interest-only period during construction followed by a 30-year amortization schedule. The 256-unit apartment complex will consist of four residential buildings, a 5,500-square-foot clubhouse, outdoor swimming pool, grilling area and play area. Units will feature granite counters, kitchens with stainless steel..

September 21, 2017

Cushman & Wakefield Facilitates $9.5M Sale of 65,000 SF Office Building in Manchester, New Hampshire

MANCHESTER, N.H. — Cushman & Wakefield has brokered the sale of an office building located at Two Wall St. in Manchester. The Mental Health Center of Greater Manchester acquired the property from Wall Springs LLC (Brady Sullivan Properties) for $9.5 million. The four-story, 65,000-square-foot office building features a two-story atrium lobby and free visitor parking. In 2016, the buyer entered into a 10-year lease at the property with an option to purchase. At the time of sale, the property..

September 7, 2017

NHI Provides $10M Acquisition Loan for 40-Unit Memory Care Community in New Hampshire

RYE, N.H. — National Health Investors Inc. (NYSE: NHI) has financed the acquisition of a 40-unit memory care community in Rye, located along the coast near the Maine border. The investment totaled $10 million. The borrower is Evolve Senior Living, a first-time partner for NHI. The property was built in 2013. The loan is secured with a first mortgage with an initial term of five years, renewal options and an interest rate of 8 percent. NHI funded the investment through its revolving credit..

August 10, 2017

Linchris Hotel Receives $16.8M Acquisition Loan for 230-Key Hotel in Nashua, New Hampshire

NASHUA, N.H. — Linchris Hotel Corp. has received a $16.8 million loan to acquire the Crowne Plaza Hotels & Resorts, located at 2 Somerset Parkway in Nashua. Linchris plans to reflag the 230-key hotel as a DoubleTree by Hilton following a property improvement plan. The property features an indoor pool, whirlpool, sauna, spa, fitness center, business center, meeting and banquet rooms, complimentary shuttle, club lounge and Speaker’s Corner & Pub. Greg LaBine and Martha Nay of HFF arranged..

August 3, 2017

Sims Closes $93M Bond Financing for Construction of Seniors Housing in New Hampshire

KEENE, N.H. — HJ Sims has closed $93 million in tax-exempt bonds, which will be used toward the development of Hillside Village, a continuing care retirement community (CCRC) in Keene. The borrower, The Prospect-Woodward Home, is the nonprofit operator of an assisted living facility in Keene. The company recognized that there were no CCRCs in the area that would allow seniors to stay in Keene as they age. Eighty percent of the independent living apartments were already reserved at the..

July 20, 2017

Fantini & Gorga Negotiates $14.2M Loan for 183-Unit Multifamily Property in Nashua, New Hampshire

NASHUA, N.H. — Fantini & Gorga has arranged $14.2 million in permanent financing for Clocktower Place II, a multifamily property located in downtown Nashua. Jason Cunnane and Tim O’Donnell of Fantini & Gorga arranged the loan, which was placed through a national Fannie Mae lender, for an undisclosed borrower. Clocktower Place II is a five-story rehabilitated mill building that is contiguous with Clocktower Place I. The two phases function as a single rental property comprising one..

July 12, 2017

NAI Norwood Negotiates $2.4M Sale of Former Granite Rose Events Center in New Hampshire

HAMPSTEAD, N.H. — NAI Norwood Group has negotiated the $2.4 million sale of the former Granite Rose events center located at 22 Garland Drive in Hampstead. Matt Bacon, Pam Lynch and Karl Norwood of NAI Norwood Group represented the seller of the 32,000-square-foot property. Z Golf Food & Beverage was the buyer. Z Golf operates a collection of banquet and meeting centers under the Wedgewood Wedding & Banquet Center brand, and will rename the center Wedgewood Granite Rose.

May 22, 2017