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.
