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CONCORD, NH-A 272-unit apartment portfolio in Concord has been sold for $17.6 million to a Burlington, MA, property management and brokerage firm in a deal that gives the new owner its first two New Hampshire holdings.

The Dolben Company picked up the assets, a 113-unit class B apartment community with 45,000 sf of commercial space known as Park Plaza and a 150-unit, class A apartment community called Penacook Village Apartments, in a deal with seller SMC Holding Corporation., an affiliate of Boston-based SMC Management Corp.

Located on Manchester Street within close proximity to downtown Concord, Park Plaza is comprised of 112 one- and two-bedroom apartments situated in two three-story apartment buildings and a two-story mixed-use property with ground level commercial space and second floor residential units. Also part of the transaction was a freestanding commercial building set on the complex’s 6.5 acres.

Penacook Village Apartments, located on Pinehurst Street just north of downtown Concord, is comprised of 150 one- and two-bedroom units situated in two three-story garden style buildings on 13.5 acres.

The seller was represented by Simon Butler, Biria St. John, Chris Sower and Michael Byrne, all with CB Richard Ellis/Northeast Multi-Housing Team, which also procured the buyer.

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