NASHUA, N.H. — Burlington, Mass.-based Linear Retail Properties has acquired a free-standing building located at 235 Daniel Webster Highway in Nashua. The 29,554-square-foot property, which is occupied by Barnes & Noble Bookstore, sold for $12 million. The property is connected to three other Linear Retail centers: Daniel Webster Plaza, Daniel Webster Shops and Daniel Webster Crossing. The name of the seller was not released.
LONDONDERRY, N.H. — Calpine Corp. (NYSE: CPN) has purchased the Granite Ridge Energy Center power plant for $500 million. The natural gas-fired, combined-cycle plant is located at 21 N. Wentworth Ave. in the Southeast New Hampshire town of Londonderry, near the Massachusetts border. The seller was Granite Ridge Holdings. The power plant features two combustion turbines, two heat recovery steam generators and one steam turbine. It began operating in 2003. Granite Ridge has a nameplate generating capacity of 745 megawatts, resulting in a purchase price of approximately $671 per kilowatt. “The addition of Granite Ridge strategically enhances our footprint in New England,” says Thad Hill, Calpine’s president and CEO. “Now with approximately 2,000 megawatts of modern gas-fired capability in the region, Calpine is well positioned to provide clean, flexible and reliable energy and capacity to the market.” Calpine financed the transaction with proceeds from a $550 million first lien term loan, secured in December 2015. Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources. Champion Energy, the company’s wholesale power operations and retail business, serves customers in 20 states and Canada. Calpine’s stock closed at $15.31 on Friday, Feb. 5, down from $22.16 one year …
NASHUA, HUDSON, CONCORD AND MANCHESTER, N.H. — Brady Sullivan Properties has acquired two multi-building portfolios totaling 775,000 square feet in New Hampshire. In the first transaction, the company purchased a five-building, 500,000-square-foot office and industrial portfolio in Nashua and Hudson from Chicago-based RREEF Property Trust for $17.5 million. The portfolio includes Birch Pond Office Park, a 73,000-square-foot office building; 22 Cotton Road, a 154,000-square-foot office and R&D facility; 472 Amherst St., a 98,000-square-foot flex building; and 15 Trafalgar Square, a 34,000-square-foot office building, all of which are located in Nashua. The portfolio also includes 5 Wentworth Drive, a 140,000-square-foot medical device facility occupied by Atrium Medical Corp., in Hudson. Tom Farrelly, Denis Dancoes, Sue Ann Johnson and Matt Pullen of Cushman & Wakefield represented the undisclosed seller in the transaction. In the second deal, Brady Sullivan acquired a five-building office portfolio totaling 275,000 square feet for $11.5 million. The portfolio includes One and Two Capital Plaza and Eagle Square in Concord; 146 Main Street in Nashua; and 2 Wall Street in Manchester. Farrelly, Dancoes, Johnson and Pullen of Cushman & Wakefield brokered the transaction. The name of the seller was not released.
BEDFORD, N.H. — Brady Sullivan Properties has arranged the leases for two office tenants at 2 Commerce Drive in Bedford. PeopleNet Communications Group, a subsidiary of Trimble, leased 5,253 square feet of office space, and SnapDragon Associates has leased 2,300 square feet of office in early 2016. Charles Panasis and Benjamin Kelley of Brady Sullivan arranged the transactions. Terms of the leases were not disclosed.
MANCHESTER, N.H. — Brady Sullivan Properties, in partnership with the Anagnost Companies, has acquired three mixed-use properties in Manchester for $4.2 million. The properties include 75, 85 and 95 Faltin Drive, which were part of the former Osram Sylvania complex. The three assets offer more than 51,000 square feet of office, warehouse and flex space. Building 1 includes 18,625 of office and warehouse space; building 2 consists of 15,405 square feet of office and warehouse space with loading docks; and building 3 is a 17,605-square-foot warehouse property with 10 loading docks and 16-foot high ceilings. Charles Panasis of Brady Sullivan Properties negotiated the transaction. The name of the seller was not released.
SALEM, N.H. — CBRE/New England has arranged a $4.1 million loan for the refinancing of Rosewood Apartment Living, a 42-unit multifamily property in Salem. The borrower is Circle Rental Management. Originally developed in 1968, Rosewood Apartment Living features seven colonial-style, three-story buildings containing six units each. John Kelly and Sam Dylag of CBRE/NE procured the financing for Circle Rental Management.
PORTSMOUTH, N.H. — HFF has arranged $35.5 million in refinancing for Sheraton Portsmouth Harborside Hotel, a 180-room hotel located at 250 Market St. in Portsmouth. The borrower, Lodgesys, will use the loan proceeds to refinance existing debt on the property. The 10-year, fixed-rate loan was provided by Bank of America. The hotel features a two-level underground parking garage, 13,500 square feet of meeting space, a fitness center, indoor pool, sauna, Link@Sheraton Internet café and Two-Fifty Market, restaurant and lodge. Anthony Cutone of HFF secured the financing for the borrower.
BRETTON WOODS, N.H. — Omni Hotels & Resorts has acquired The Omni Mount Washington Resort from CNL Lifestyle Properties for an undisclosed price. The resort is home to the Omni Mount Washington Hotel and Bretton Woods, a ski area and one of the largest Nordic touring centers in New England. The acquisition includes the Omni Mount Washington Hotel, the Omni Bretton Arms Inn, Bretton Woods Ski Area and Nordic Center, the Lodge at Bretton Woods, Mount Washington and Mount Pleasant golf courses, and 500 acres for future expansion and development. The resort recently underwent a $90 million expansion and renovation, which includes updated guest rooms and public spaces, a 25,000-square-foot spa, a 20,000-square-foot conference center, enhancements to the ski area and acquisition of the golf courses and development land. Omni Hotels & Resorts has been managing the resort since September 2009, and with this transaction, will transition into long-term ownership of the all-season property.
NASHUA, N.H. — M&T Realty Capital has provided an $11.2 million Fannie Mae loan for the refinancing of Clocktower Place in downtown Nashua. The 10-year loan features a 3.97 percent fixed rate and a 30-year amortization schedule. Clocktower Place offers 143 rental units in one-, two-, three-bedroom or townhome layouts. Community amenities include an on-site health club, covered parking, function rooms and concierge services. Daniel Kerner of M&T Realty Capital’s Boston office secured the financing, while Fantini & Gorga provided brokerage services for the borrower.
MERRIMACK, N.H. — NAI Norwood Group has arranged the acquisition of an office building located at 237 Daniel Webster Highway in Merrimack. Shellback Harbor LLC purchased the property from C&I Investment Associates for $3.5 million. Situated on 9.5 acres, the 68,870-square-foot property was formerly home to Fairpoint Communications. Shellback Harbor, dba BES&T Global Commissioning, will use the property as its world headquarters. Aron Brown of NAI Norwood Group represented the buyer, while Norton Asset Management represented the seller in the transaction.
