April 19, 2021 – Will Peck, Dennis Kelleher and John Pentore of Horvath & Tremblay have arranged the sale of Great Brook Village in Belmont, New Hampshire. The trio exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $4,260,000, a 6.60% Cap Rate.
Great Brook Village is a 55+ manufactured home community located at 10 Great Brook Drive in Belmont, New Hampshire (the “Property”). The Property includes all of the land and roads within the community, as well as sixty-five manufactured home lots, all of which are occupied with permanent tenant owned homes. Great Brook Village offers fifty-one (51), three-bedroom, 2-bathroom home lots, and fourteen (14), two-bedroom, 2-bathroom home lots with a 2-story community clubhouse and management office on 19.4 acres of land. The Property is serviced by city water and sewer, which the home-owners pay directly. The tenants are responsible for their own utilities and the homes feature individual oil-fired, hot-water baseboard heat. The lot rents were recently increased and are uniform by home type throughout the community. Great Brook Village is located in the heart of Belmont, just off of Depot Street (NH Route 140), and offers its residents tranquil living in the rural village of Belmont, while also providing convenient access to area shopping amenities just 4-miles away in Tilton, and numerous outdoor recreation activities with boating, fishing, and hiking in the lakes region, and winter activities at nearby ski resorts.
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.