Northmarq arranges $24.05m sale, $17.745m acquisition financing of The Meridian at Bedford apts.

Bedford, NH Northmarq’s Multifamily Investment Sales team led by Brett Curtis, Chris Doerr, Alix Curtin and Chris Norton, in collaboration with its Boston Debt + Equity team led by Kevin Sykes, Jeffrey Munoz and Ed Riekstins,  completed the $24.05 million sale and $17.745 million acquisition financing of The Meridian at Bedford, an 85-unit apartment community located at 66 Hawthorne Ave.

Northmarq represented the seller, a private investor based out of New Hampshire. The buyer was Arrowpoint Properties, LLC.

“Successfully bringing The Meridian at Bedford to a close at a record-breaking price per unit for sub-200-unit multifamily transactions in the area highlights both the strength of the asset and the momentum we’re currently seeing across New Hampshire,” Curtis said. “The seller did a phenomenal job repositioning and renovating the property, which drove significant buyer interest and allowed us to achieve premium pricing. We expect demand for well-positioned multifamily properties in Southern New Hampshire to continue to grow, especially as rent control remains a possibility in Massachusetts.”

Northmarq’s D+E team then arranged the permanent-fixed financing on behalf of the borrower, Arrowpoint Properties, LLC, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a five-year term.

“In a volatile rate environment, securing attractive pricing with certainty of execution was a key priority for the borrower,” Sykes said. “By leveraging Northmarq’s in-house Fannie Mae DUS platform, our team delivered a highly competitive fixed rate and a smooth, efficient closing that aligned well with the borrower’s long-term strategy.”

Nestled along the Merrimack River and fully renovated in 2024, The Meridian at Bedford features studio, one- and two-bedroom units with brand new modern amenities. Apartments include granite countertops, stainless steel appliances, and new fixtures.

Community amenities include concierge, a fitness center, laundry facilities, on-site management and maintenance, pet spa, storage, library, and recreation room.

The property has direct access to the Heritage Trail, offering nature walks and river views. It also has proximity to area food, shopping, coffee shops, I-293 and U.S. Hwy. 3.