Real Estate

Halstead Manchester Sells for $164.6M

Manchester, NH – The DSF Group announced that it has sold Halstead Manchester, a 640-unit market-rate apartment community located at 22A Country Club Drive in Manchester, for $164.6 million.

CBRE Capital Markets’ Biria St. John, Simon Butler and John McLaughlin exclusively represented an affiliate of The DSF Group from Boston.

Spread out over nearly 41 acres, the community is comprised of 16 three-story residential buildings and two single-story amenity buildings with two swimming pools.

Originally built between 1981 and 1985, two of the buildings were completely rebuilt between 2013 and 2014. In February 2020, DSF completed its signature Halstead amenity package. In addition to the Halstead amenities, ownership completed significant operating expense reduction initiatives. These green initiatives included replacing boilers with high efficiency models, and installing LED lighting and low-flow fixtures, resulting in significant utility savings.

“This sale represents the largest total consideration for a single apartment transaction in the state’s history and marked the successful conclusion of our investment strategy for the asset. The New Hampshire market continues to be the top performing market in all of New England,” stated Josh Solomon, president of The DSF Group.