News: Front Section

Elm Grove Companies leads
acquisition of Highfield Commons

Rochester, NH Real Estate Investment firm Elm Grove Companies has acquired 96 townhome style apartments, 6 fully permitted along with 40 future single family building lots and a large to be developed tract of land for a combined purchase price in excess of $30 million.

The 96 apartments, known as Highfield Commons, were built in 2016. They are attached three bedroom, two and a half bath townhome style units with 1 car garages. 

The apartment acquisition was accomplished through a strategic joint venture with an equity capital partner and the assumption of in place debt. The land acquisitions were acquired solely by Elm Grove Companies related entities using balance sheet capital. 

“Elm Grove is excited to grow its footprint in a city which welcomes developers and with whom we have a long-standing working relationship,” said Elm Grove Companies co-founder and head of investments, Newton Kershaw III. “Rochester, NH has experienced immense growth and improvement over the fifteen years we’ve been invested here. This acquisition brings our Rochester unit count to in excess of 300 apartments, and we are excited to be working on two additional local multifamily communities, currently in the pre-development phase.” 

MORE FROM Front Section
Front Section

McEvoy of The Conrad Group brokers $2.9 million sale of industrial building

Hingham, MA The Conrad Group  has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
5 Questions to ask when  choosing a real estate broker - by Elizabeth Perez Barlett

5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett

>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty

The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty

As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
It’s time to get creative with closed college campuses - by Christian Koulichkov

It’s time to get creative with closed college campuses - by Christian Koulichkov

Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in