Class A apartments change hands in Northeast

Complex constructed in 4 phases

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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 Ne...