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Brady Sullivan Properties Pays $29M for 192-Unit Community in Dover
Brady Sullivan Properties has completed its $29.1-million purchase of White Cliffs at Dover, a 192-unit garden-style community at 510 Marthas Way in Dover, NH.
Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller and procured the buyer.
White Cliffs at Dover was built between 1983 and 1985 and is comprised of eight, 24-unit, three-story buildings. Prior ownership had acquired the property in the early 1990s and made some improvements, including newer roofs and windows.
One building was offline due to a recent fire. Brady Sullivan plans to make significant improvements to the property plus bring the fire-damaged building back online and upgrade individual units as they turn over.
“The White Cliffs at Dover offers Brady Sullivan Properties the ability to execute their value-add strategy and make much needed improvements to the property,” said St. John. “This acquisition will also grow their NH footprint and expansion into the Seacoast market.”
- ◦Sale/Acquisition
