February 13, 2019
Hilltop Ridge and The Highlands apartments at Washington Park in Manchester, New Hampshire have traded hands for $88.5 million. The 640-unit apartment portfolio is spread out over 40.8 acres off Front Street and Interstate 293.
The buyer was an affiliate of The DSF Group, while the seller was Hilltop Apartments LLC and WPN Property LLC.
DSF plans to operate the properties as one community in order to gain operational efficiencies. Each of the buildings have new roofs, exterior siding and windows. Ownership has renovated nearly 90% of the apartment homes with upgraded kitchens and baths.
DSF plans to further enhance the property with their signature Halstead amenity program. The DSF Group’s Josh Solomon says, “We look forward to introducing our Halstead brand to this robust rental market.”
CBRE’s Biria St. John and Simon Butler exclusively represented the seller. CBRE’s Brian Eisendrath, Cameron Chalfant and John Kelly procured the financing for the buyer through an agency execution.
For comments, questions or concerns, please contact Dennis Kaiser