News: Northern New England
Posted: July 3, 2013
UMF brokers sale of 87 units for $7.51 million
United Multi Family (UMF) brokered the sale of an 87-unit apartment complex known as the Ledgewood Apartments located at 336-504 Kennard Rd., for $7.51 million.
Handled by David Lamattina of the New England office, the residences were built in 1968 and consisted of 27 individual buildings. The property was sold by John Vratsenes Trust to 459 Kennard Realty, LLC with the seller providing the financing. The CAP rate at the time of sale was 6.82%.
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