Socha Opens New Hampshire BTR Community
The company broke ground on the project last year.
Socha Cos. has celebrated the grand opening of Saddle Rock, a 64-unit built-to-rent townhouse community in Manchester, N.H. More than a third of the homes are already leased, with the others are slated to receive residents in the summer of 2025.
Socha broke ground on Saddle Rock last year. The developer financed the project’s construction with a $16 million loan issued by Bangor Savings Bank in 2022, according to Yardi Matrix information.
The community came online at 1824 Front St., on a 8.3-acre site. Each townhouse measures 1,392 square feet across two stories and has three bedrooms, two bathrooms, a patio and a private parking space or garage.
The property is just off Interstate 293, some 4 miles from downtown Manchester. Several retail options and eateries are along this thoroughfare within 3 miles, including a Walmart Supercenter and a Target.
According to the Multi-Housing News 2025 outlook, the SFR/BTR sector is expected to perform better in next year after a relatively stable 2024, which mirrored multifamily trends due to persistent challenges, like high construction costs and elevated interest rates. While this year saw a limited amount of new development projects, interviewed experts consider construction activity will likely pick up the pace in 2025.
