New Hampshire

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

by Amy Works September 7, 2017

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 was 89 percent leased. Thomas Farrelly, Denis Dancoes and Sue Ann Johnson of Cushman & Wakefield represented the seller, while Mike Reed of Stebbin Commercial Properties represented the buyer in the transaction.

September 7, 2017

Loans Multifamily New Hampshire Northeast Seniors Housing

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

by Amy Works August 10, 2017

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 facility. NHI has an option to purchase the property after 24 months if certain performance goals are achieved.

August 10, 2017

Hospitality Loans New Hampshire Northeast

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

by Amy Works August 3, 2017

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 the 10-year, fixed-rate loan through East Boston Savings Bank for the borrower.

August 3, 2017

Loans Multifamily New Hampshire Northeast Seniors Housing

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

by Amy Works July 20, 2017

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 time of bond closing. Prospect-Woodward expects to break ground this year on the 48-acre campus. New Hampshire Health and Education Facilities Authority issued the bonds. Sims immediately sold 20 percent of the bonds — $18 million — to individual investors. Sims created three series of Entrance Fee Principal Redemption Bonds to capture initial entrance fees from new residents and to reduce debt quickly. The lender expects the program to allow Prospect-Woodward to redeem 40 percent of the bonds within three years.

July 20, 2017

Loans Multifamily New Hampshire Northeast

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

by Amy Works July 12, 2017

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 long continuous structure that was built and expanded throughout the 19th century. The property was converted to its current use in the late 1980s. Clocktower Place II features 128 market-rate and 55 affordable one-, two- and three-bedroom apartments. Additionally, the property features a fitness center, indoor pool, common room and surface and underground parking.

July 12, 2017

New Hampshire Northeast Office

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

by Haisten Willis May 22, 2017

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

New Hampshire Northeast Retail

Inland Real Estate Income Trust Acquires Pentucket Shopping Center in Plaistow, N.H.

by Haisten Willis April 20, 2017

PLAISTOW, N.H. — Inland Real Estate Income Trust has acquired the 199,335-square-foot Pentucket Shopping Center in Plaistow. The property is located one mile north of the Massachusetts state border and about 40 miles north of Boston. Mark Cosenza of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Real Estate Income Trust. Originally constructed in 1986 and remodeled in 2004, Pentucket Shopping Center is located at 58 Plaistow Road. The property was 98 percent leased as of the acquisition date. Tenants at the center include The Home Depot, Staples, Bed Bath & Beyond, Hallmark, Sally Beauty Supply, Sport Clips and Santander Bank.

April 20, 2017

New Hampshire Northeast Retail

The Wilder Cos. to Lease, Manage Shopping Center in Keene, N.H.

by Haisten Willis April 10, 2017

KEENE, N.H. — The Wilder Cos. has taken on the leasing and management of Fairbanks Plaza in Keene. Effective April 1, the contract was awarded by the center’s owner, Unison Realty Partners of Boston. Fairbanks Plaza is a 143,000-square-foot open-air center with tenants including Kohl’s, Aldi and Walgreens. The property is the fourth Unison Realty Partners center managed by Wilder.

April 10, 2017

New Hampshire Northeast Office

Margulies Perruzzi Architects Completes Office Laboratory Space in Salem, N.H.

by Haisten Willis April 6, 2017

SALEM, N.H. — Margulies Perruzzi Architects (MPA), an architectural and interior design firm, has completed a 30,000-square-foot laboratory and office facility for Boston Analytical, the life sciences division of Alpha Analytical. Located in Salem, Boston Analytical’s new space houses chemistry and microbiology laboratories equipped with analytical testing equipment. Boston Analytical’s testing services are used by pharmaceutical, biopharmaceutical and medical device companies. MPA programmed and designed the spaces, including 20,000-square-foot chemistry, stability and microbial labs and 2,000 square feet of ISO 8 to ISO 5 clean rooms.

April 6, 2017

Healthcare New Hampshire Northeast Office

The Kane Co. Negotiates Lease for Medical Office in Portsmouth, N.H.

by Haisten Willis March 28, 2017

Portsmouth, N.H. — The Kane Co. has negotiated a 4,081-square-foot lease for Medical Billing & Consulting in Portsmouth. Catie Medeiros of The Kane Co. represented the tenant in the lease at 95 Brewery Lane. Medical Billing & Consulting specializes in solving medical billing and revenue cycle challenges for healthcare clients. The property is located in the Malthouse Exchange Plaza, joining other tenants including Seacoast Sports Club, MoJo’s BBQ Grill, Portsmouth Center for Yoga and Wink Salon & Spa. Andy Fleisher of NAI Norwood Group represented the landlord in the transaction.

March 28, 2017

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