August 17, 2022 – William Peck, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of the Rosewood Apartments, a 42-unit apartment complex in Salem, New Hampshire. The desirable asset sold for $10,400,000.
The Rosewood Apartments is a 42-unit apartment community located at 1-7 Meisner Circle in Salem, New Hampshire. The Property consists of seven, garden-style, apartment buildings on a 4.66-acre site. The buildings are set on a residential street around a landscaped cul-de-sac with off-street parking lots and a unit breakdown that includes (18) 2-bedroom units and (24) 3-bedroom units. The Rosewood Apartments has benefited from significant upgrades and improvements over the last several years. More than half of the units have been completely renovated including vinyl plank flooring, updated kitchen cabinets, granite countertops, stainless steel appliances, new tile flooring in the bathrooms with new vanities and fixtures. Additionally, all of the roofs have been replaced and new windows have been installed in select units. The Property is well-located on a quiet residential street with convenient highway access to both Interstates 93 and 495 and is proximate to The Mall at Rockingham Park and the new Tuscan Village mega-development. The location also provides walkable access to Salem High School, Salem Middle School, and the Boys & Girls Club of Greater Salem. Being located on I-93, as the first town across the border from Massachusetts in an income and sales tax-free state, has made Salem a popular commuter town. Located just 35 miles north of Boston, Salem, New Hampshire has an estimated population of 30,745 and is part of the Greater Boston Metropolitan Statistical Area with a total population of approximately 4.87 million people.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.