Robbins of Colliers facilitates $3.4 million sale of 22-unit multifamily portfolio

 

 

Manchester, NH Colliers negotiated the sale of three fully leased multifamily buildings located at 251 Pine St., 118 Beech St., and 124 Beech St. The combined properties total 19,896 s/f and sold for $3.425 million, representing $155,682 per unit, according to the Hillsborough County Registry of Deeds.

The portfolio consists of a mixed-use building at 251 Pine St. containing nine residential units and one office unit, and two 6-unit buildings at 118 Beech St. and 124 Beech St. The portfolio features a mix of one-, two-, and three-bedroom units and were 100% occupied at the time of sale.

Andrew Robbins, senior associate with Colliers in New Hampshire, represented the seller, Select Capital, LLC, and assisted the buyer, White Barn Real Estate, LLC.

Manchester continues to rank as one of the most attractive rental markets in Northern New England, driven by its affordability compared to Boston, proximity to major employers, and business-friendly tax environment. The city’s rental market fundamentals remain strong, with average rents reflecting the area’s desirability while still maintaining the affordability advantage that draws tenants from higher-cost Boston-area markets. Demand remains especially strong for high-quality two- and three-bedroom units that appeal to families and long-term tenants. In today’s market, where elevated interest rates and tighter lending standards have created a more selective investment landscape, opportunities that offer a combination of scale, stable cash flow, and long-term upside are increasingly rare and highly desirable.

“This transaction highlights how experienced investors remain actively engaged in acquiring well-located, income-generating assets in stable, secondary markets like Manchester,” said Robbins.