Pembroke, NH Concord Commercial Real Estate represented Nate Sanel and Amy Sanel in the sale of 716-718 Riverwood Dr. to EREH IV, LLC.
The light industrial property, which sold for $800,000, was one of the former homes of National Powersport Distributors, specialists in motorcycles.
EREH is owned by investment partners David Cowie (former owner of ENPRO Services) and Matthew Clark.
Broker Brenda Litchfield and attorney Kimberly Burgess represented the sellers and attorney Eben Adams of Pierce Atwood represented the buyers.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.