BEDFORD, N.H— Northmarq announced the successful completion of the $24.05 million sale and $17.745 million acquisition financing of The Meridian at Bedford, an 85-unit multifamily community located at 66 Hawthorne Avenue in Bedford, New Hampshire.
Northmarq’s Multifamily Investment Sales team—led by Brett Curtis, Chris Doerr, Alix Curtin, and Chris Norton—represented the seller, a New Hampshire-based private investor. The buyer was Arrowpoint Properties, LLC. The transaction was completed in collaboration with Northmarq’s Boston Debt + Equity team, led by Kevin Sykes, Jeffrey Munoz, and Ed Riekstins.
According to Curtis, the sale achieved a record-breaking price per unit for sub-200-unit multifamily transactions in the Bedford market. “Successfully bringing The Meridian at Bedford to a close at a record-breaking price per unit 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.”
Curtis added that demand for well-located multifamily assets in Southern New Hampshire is expected to remain strong, particularly as rent control continues to be considered in Massachusetts.
Following the sale, Northmarq’s Debt + Equity team arranged permanent fixed-rate acquisition financing on behalf of the buyer through the firm’s in-house Fannie Mae Delegated Underwriting and Servicing (DUS) platform. The loan was structured with a five-year term.
“In a volatile rate environment, securing attractive pricing with certainty of execution was a key priority for the borrower,” said Sykes. “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 with the borrower’s long-term strategy.”
Fully renovated in 2024, The Meridian at Bedford offers studio, one- and two-bedroom apartments featuring modern finishes, including granite countertops, stainless steel appliances, and updated fixtures. Community amenities include concierge services, a fitness center, laundry facilities, on-site management and maintenance, a pet spa, storage, library, and a recreation room.
The property is located along the Merrimack River with direct access to the Heritage Trail, providing scenic river views and walking paths. It also offers convenient access to nearby dining, shopping, coffee shops, Interstate 293, and U.S. Highway 3.
