The DSF Group Buys NH Portfolio
- Feb 13, 2019
An affiliate of The DSF Group has acquired a two-property multifamily portfolio in Manchester, N.H. CBRE Capital Markets arranged the sale of Hilltop Ridge and The Highlands at Washington Park. The communities total 640 apartments on approximately 40 acres off Front Street and Interstate 293.
“We are pleased to have facilitated the sale of Hilltop and Highlands on behalf of our client who had developed and owned the property since they built it in the early 1980s,” said CBRE Multi-Housing Expert Biria St. John, in a prepared statement, who along with Simon Butler exclusively represented the seller. “Our client was a tremendous steward of the asset, having invested in the region’s employment market in recent years and the continued growth expected in the future. DSF should realize strong revenue growth, particularly when combined with the additional planned improvements.”
Operating as one
Eyeing the objective of operational efficiencies, DSF intends to operate the properties as one community. Each building has a new roof, exterior siding and windows. The previous owner upgraded kitchens and baths in almost 90 percent of the apartment homes.
The CBRE Capital Market’s team of Brian Eisendrath, Cameron Chalfant and John Kelly procured the financing for the buyer through an agency execution.
DSF intends to additionally improve the portfolio with its signature Halstead amenity program. “We look forward to introducing our Halstead brand to this robust rental market,” said DSF Group president Josh Solomon.
Image courtesy of Yardi Matrix