News: Front Section
Posted: May 12, 2011
Butler, St. John, McLaughlin and Byrne of Cushman & Wakefield broker $36 million sale
Cushman & Wakefield (C&W) completed the $36 million sale of Wellington Hill, a 390-unit apartment community located at 501 Wellington Hill Rd. C&W's Capital Markets Group, including Simon Butler, Biria St. John, Michael Byrne and John McLaughlin, exclusively represented the seller, Equity Residential and procured the buyer Wellington DHC LLC, an affiliate of Dawn Homes Management of Albany, N.Y.
The community is situated on 32.7 acres of landscaped grounds and consists of 53 two and three-story townhouse buildings and 2 three-story garden-style apartment buildings. The unit mix includes 71 one-bedroom apartments, 284 two-bedroom apartments and 35 three-bedroom apartments with a total average unit size of 1,008 s/f. 318 units of the units are townhouse-style with 120 of these featuring direct access garage parking.
Wellington Hill is a garden style apartment community built in 1986. The community is located four miles east of downtown, off I-93 at exit 8. The area contains the headquarters for New Hampshire's primary banking and financial services industries. Top local employers include Elliot Hospital, Catholic Medical Center, Verizon Communications, Anthem Blue Cross & Blue Shield, Citizens Bank, Dartmouth Hitchcock Manchester and TD Bank. Wellington Hill's location provides for great proximity to some of Manchester's best retail, restaurants, cultural attractions, professional sports and entertainment venues. Local attractions include the Mall of New Hampshire, Verizon Wireless Arena, Fisher Cats Ballpark, The Currier Museum of Art, and the Palace Theatre
Units feature fully applianced kitchens including breakfast bars and white-on-white appliances, in unit washer and dryers, central air conditioning, spacious closets, and fireplaces and vaulted ceilings in select units. Property amenities include a community room with pool table, lounge, TV, Wi-Fi access and full kitchen, fitness center, indoor heated lap pool with hot tub, sauna/steam room, racquetball court, outdoor pool with sun deck and WiFi access, tennis courts and playground.
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