PORTSMOUTH, NH - TGM Associates announced the sale of TGM Beechstone to Forest Properties based in Cambridge, MA. The broker on the transaction was Richard Robinson, an Executive Director at IPA. Terms of the transaction were not disclosed.
TGM Beechstone is located in Portsmouth, NH and has 428 apartments situated on a 73.5 acre site. The community was built in three phases: Phase 1: Colonial Pines (90-units), Phase 2: Stonecroft (84-units) and Phase 3: Beechstone (254-units). TGM purchased Beechstone in 2007 and implemented a value add program in 2008.
TGM Beechstone Apartments is in a tranquil setting with beautifully landscaped grounds, while never losing convenient access to all that downtown Portsmouth has to offer. TGM Beechstone apartment homes feature upgraded eat-in kitchens with contemporary cabinets, countertops, lighting, and black Whirlpool appliances.
TGM, a vertically and horizontally integrated operating company, specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. As of March 31, 2015, TGM has invested approximately $2.3 billion in 125 multifamily properties throughout 28 states. TGM's current multifamily portfolio contains properties in 10 states.
Source: TGM Associates / #Apartments #Multifamily