New Hampshire apartment portfolio sells for $17.6M

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CB Richard Ellis/New England today announced the sale of two apartment communities in Concord, N.H., for $17.6 million. Burlington, Mass.-based The Dolben Co. bought Park Plaza, a 113-unit class B apartment community with 45,000 square feet of commercial space, and Penacook Village Apartments, a 150-unit, class A apartment community. Penacook Village Apartments consists of five three-story garden style buildings on 13.5 acres of land. The property is located on Pinehurst Street, just north of downtown Concord in Penacook. Park Plaza consists of two three-story apartment buildings, one two-story mixed-use building with commercial units on the ground level and residential units on the second story and one freestanding commercial building on 6.5 acres of land. Park Plaza is located just to the south of the city of Concord along Manchester Street (Route 3). The Dolben Co. is a privately held real estate company specializing in the management, acquisition and development of multi-family ho...