January 30, 2020 – Dennis Kelleher, William Peck and John Pentore of Horvath & Tremblay have successfully completed the sale of the Kennard Road Portfolio for $10,400,000 at a 6.96% cap rate. The trio were the sole brokers in the transaction in which 459 Kennard Realty, LLC sold to Brady Sullivan Properties, LLC.
The Kennard Road Portfolio, a value-add 87-unit apartment complex, is well-located in a residential neighborhood in Manchester. The portfolio consists of 27 buildings on 23 parcels of land, with 14 (1) bedroom units, 17 (2) bedroom units, and 56 (3) bedroom units. The portfolio benefits from an excellent residential location in Manchester, New Hampshire’s largest city, that provides quick access to downtown Manchester, Derryfield Golf Course, and Interstate 93. The Kennard Road Portfolio offers the incoming buyer the opportunity to own a unique asset in one of the fastest growing real estate markets in the Region.
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.