Elm Grove Companies and Harborfields Realty Investors close $2.1 million loan on Wadleigh Falls

Newmarket, NH Elm Grove Companies and Harborfields Realty Investors LLC have closed a $2.1 million supplemental loan on Wadleigh Falls, a 57-unit age-restricted (55+) community located at 290 Wadleigh Falls Rd. Patrick Brady, president of Brady Capital Advisors, brokered the loan through Eastern Bank and was also responsible for placement of the original debt through Eastern Bank at acquisition.

This milestone financing has returned approximately 75% of investors’ original capital just three years after acquiring the property, while continuing substantial distributions going forward. The outcome reflects both the strength of the asset and the disciplined management approach.

“We strongly believe that we can provide superior returns for our investors while providing a best-in-class housing experience for our tenants.” said Sam Kirschner, principal of Harborfields. “This supplemental financing proves our thesis and demonstrates our ability to create value, drive returns, and deliver on our strategy.”

Newton Kershaw III, principal of Elm Grove Companies, said, “This transaction is a testament to the diligent execution of our business plan by Elm Grove’s best-in-class asset management and property management teams. Their commitment to operational excellence, strategic capital improvements, and resident satisfaction continues to unlock value across our portfolio and deliver outstanding results for our investors.”

Wadleigh Falls remains a core holding within Elm Grove and Harborfields’ portfolio, and the venture looks forward to continuing to operate and enhance the community as it delivers stable, long-term housing for the region’s senior population. In addition, Elm Grove continues to evaluate new acquisitions to grow its portfolio and investment opportunities.