Peck of Horvath & Tremblay arranges sale of 116 units in New Hampshire Seacoast for $25.2 million

Dover, NH William Peck of Horvath & Tremblay has arranged the sale of two multifamily complexes consisting of 116 units in Dover and Rochester. Peck represented both buyer and seller to close the transaction at a sale price of $25.2 million and $217,241 per unit.

The portfolio consists of Cedar Cove, a 62-unit residential community located at 111-408 Regent Dr. in Dover and Norway Plains, a 54-unit residential community located at 17 Norway Plains Rd. in Rochester.

Cedar Cove consists of six buildings and contains 62 residential units comprised of 30 two-bedroom/one-bathroom units, 24 two-bedroom/two-bathroom units, and eight three-bedroom/1.5-bathroom townhouse units on 7.66 acres. The property is located along Whittier St. in a quiet neighborhood. Set along the banks of the Cocheco River, Cedar Cove offers access to Spaulding Tpke. (NH Rte. 16), downtown Dover, Wentworth-Douglas Hospital, and Central Ave. and High St., the area’s primary commercial corridors which are home to national retailers and restaurants.

Norway Plains consists of three buildings and contains 54 two-bedroom/one-bathroom residential units on 11.55 acres. The property is separately metered for electricity, which the tenants pay directly. The landlord pays for common electric, heat, hot water, and domestic water and sewer. The property is located along Norway Plains Rd. in a quiet rural neighborhood. Norway Plains offers access to Spaulding Tpke., US Rte. 202, downtown Rochester, Frisbie Memorial Hospital, and Wakefield St., the area’s primary commercial corridor which is home to national retailers and restaurants.