Tuesday, April 08, 2014

NAI Norwood Group Sells 120 Unit Apartment Complex in Laconia

Laconia, NH – NAI Norwood Group is pleased to announce the sale of Lakeshore Estates in Laconia, NH. Andy Fleisher, CCIM, represented the seller, and assisted the buyer in the sale. Lakeshore Estates is a garden style apartment complex consisting of 4 buildings, 120 units and 118,032+/- SF. According to the Registry of Deeds the sale closed March 10, 2014 for $4,900,000.


The lead financing was handled by Andre Tremblay, Vice President and Commercial Loan Officer with Franklin Savings Bank in Bedford, NH. Secondary financing was with Sugar River Bank.  Andrew Prolman, an attorney with Prunier & Prolman P.A., in Nashua, NH, assisted the buyer in this complex transaction.  This was the first time this property had been available for purchase in over 30 years. The Property was 93% leased at the time of the sale, and consists of 4, three-story buildings and a recently renovated swimming pool. The new owners intend to continue to manage this complex as the previous owners had, and they will continue to upgrade the interior of the apartments as well as updating other aspects of the Property. 

NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms.  Through this network of 355 offices in 55 countries, NAI Norwood Group is able to leverage their 45+ years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

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