CB Richard Ellis/Whittier Partners negotiated the sale of Stone Farm Apartments, a 145-unit multifamily community in Lebanon, N.H.
The value of the transaction was $16.5 million.
Stone Farm Apartments is a class A property comprised of 12 three-story, garden-style apartment buildings of wood frame construction and vinyl clapboard siding. The buildings were built in four phases with Phase 1 (36 units) completed in 1989 and Phases 2-4 (109 units) completed between 2001 and 2003. The apartments feature modern amenities with washers and dryers in the units (on Phases 2-4), central A/C (Phases 2-4) and patios/balconies. The property also features a fitness center, on-site leasing/management office and central mailroom.
Woodlark Opportunity Fund LLC purchased the community from Stone Farm Properties LLC.
CB Richard Ellis/Whittier Partners is a Boston-based joint venture of CB Richard Ellis and Whittier Partners Group with offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire.
What’s your opinion? Send your Letter to the Editor to firstname.lastname@example.org.