MANCHESTER, N.H. – Mark Whelan of NorthMarq Capital has arranged $2.4 million in earn-out/supplemental financing for a 123-unit multifamily property located in Manchester. The transaction was structured with an eight-year term on a 28-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.
MILTON, N.H. — Eckman Construction has completed the construction of Herbert Downs Fire-EMS Station, located at 865 White Mountain Highway in Milton. The 9,000-square-foot facility features four apparatus bays, training areas, turnout gear space, offices, two dorms and a new dispatch center. Cowan Goudreau Architects provided design services for the project, which finished ahead of schedule and under budget.
LACONIA, N.H. — Connecticut-based investment bank HJ Sims has arranged $17.5 million in bond financing for Taylor Community, a nonprofit continuing care retirement community (CCRC) in Laconia, a resort and retirement destination in New Hampshire’s Lakes Region. The new bonds will replace and restructure existing debt on the property, as well as terminate third-party interest rate swaps. The community’s improved financial performance and higher occupancy opened up opportunity for the refinancing. The new bonds feature a fixed 3.75 percent interest rate for a 10-year period.
MANCHESTER, N.H. — NorthMarq Capital has arranged $4.8 million in acquisition financing for the purchase of an apartment complex located in Manchester. Mark Whelan of NorthMarq secured the 10-year loan, which features a 30-year amortization schedule, for the undisclosed borrower. The multifamily property features 67 apartment units.
MANCHESTER, N.H. — NAI Norwood Group has brokered the sale of two state-owned land parcels in Manchester. A private investor acquired the properties for $1.2 million. The site at 300 Hanover St. includes a 20,360-square-foot office building and the parcel at 436 Maple St. is currently used as a parking lot. NAI Norwood Group represented the seller, the state of New Hampshire, in the transaction.
WARNER, N.H. — CBRE/New England has brokered the sale of an industrial facility located at 780 Route 103 West in Warner. Milton CAT sold the 49,880-square-foot property to CS Properties for an undisclosed price. Built in 1988, the facility features a 35,500-square-foot service shop with 6,380 square feet of air-conditioned office space and a separate 9,100-square-foot warehouse with eight drive-in doors. Chris Healey of CBRE/NE represented the seller and procured the buyer in the deal.
NASHUA, N.H. — Linear Retail Properties has acquired two retail properties along the Daniel Webster Highway and Spit Brook Road in Nashua for $12.5 million. Old Navy and Burger King occupy the two freestanding buildings, which total 27,673 square feet. Geoffrey MIllerd and Justin Smith of Newmark Grubb Knight Frank represented the undisclosed seller, while Aubrey Cannuscio provided in-house representation for Linear Retail Properties.
PORTSMOUTH, N.H. — The Kane Company represented A&A Search Staffing in a lease for 1,367 square feet of office space at 2 International Drive in Portsmouth. The information technology staffing company took occupancy of the space on Dec. 1. Catie Medeiros of The Kane Company represented the tenant, while Russell Doyle provided in-house representation for the landlord, Two International Group, in the deal.
DALLAS — The Dallas office of HFF has arranged post-acquisition financing for a portfolio of 154 convenience and gas station sites totaling 97.8 acres in the Northeast. The loan was provided by a consortium of lenders led by Capital One and BMO Harris. Andy Scott and Michael George of HFF’s Dallas office arranged the five-year, floating rate acquisition financing with 18 months of interest-only payments for the borrower, a subsidiary of a private real estate investment fund advised by Crow Holdings Capital-Real Estate. The portfolio comprises 88 sites in New York, 45 sites in Massachusetts, 11 sites in Connecticut, seven sites in New Hampshire, two Rhode Island sites and one site in Pennsylvania. All properties are subject to an absolute net lease for 20 years with a subsidiary of Petroleum Marketing Group. The amount of the loan was not released.
CANAAN, N.H. — Bedford, N.H.-based Eckman Construction Co. has completed renovations and a large addition at Mascoma Valley Regional High School in Canaan. The new addition features a 500-seat auditorium and performing arts theater, band room, media center and art room. Renovations to the original building, which was built in 1963, included a new handicap-accessible main entrance, classrooms, a new main office and administrative area, and energy-efficient upgrades throughout the facility. New Hampton, N.H.-based Marinace Architects provided architectural services for the project.
