Northland Expands Presence in New England with Edgebrook Residences in Merrimack, NH
September 25, 2024 – Merrimack, NH– Northland, a national real estate private equity firm with $8 billion of assets under management, announced today the acquisition of Edgebrook Residences, a 232-unit community located in Merrimack, NH. Edgebrook will be Northland’s second asset in New Hampshire expanding its operations in one of the most favored institutional markets in the country, bringing the Boston-based firm’s New England multifamily portfolio to seven properties and 1,754 units.
Northland’s national operating platform sets it apart in tertiary markets like Southern New Hampshire, where the firm’s proven approach to property management drives value for both residents and investors. Northland will draw on its experience in managing other 55+ communities to elevate the active adult resident experience for those living in the community’s 76 age-restricted market-rate units.
“We’re excited to add another class A suburban asset to our New England multifamily portfolio. Southern New Hampshire has proven itself a dynamic market anchored by technological, pharmaceutical, and financial service providers throughout the I-495 and Route 3 employment corridors. The acquisition also advances a strategic focus on housing catering to the fastest growing segment population with a building dedicated to 55+ residents,” says Mike Campbell, Vice President of Investments.
Located just nine miles from the Massachusetts border, Edgebrook offers residents an unparalleled live-work-play lifestyle in Southern New Hampshire. The property’s prime location off Route 3 provides seamless access to major job centers in both New Hampshire and Massachusetts, including the Route 3 “Tech Corridor,” a 30-mile stretch that serves as the employment backbone of Southern New Hampshire. Additionally, residents are within a short drive of retail destinations such as the Merrimack Premium Outlets, one of the state’s largest shopping centers.
Constructed in 2022, Edgebrook Residences consists of four four-story residential buildings with elevator service, subterranean parking, and a standalone clubhouse that offers many high-end amenities. Edgebrook’s units, a mix of studios, one-bedroom, and two-bedroom apartments, are thoughtfully designed with luxury finishes, including white quartz countertops, custom cabinetry, wood-style flooring, kitchen islands, stainless steel appliances, and designer lighting fixtures.
Top-tier amenities include a modern fitness center complete with a yoga studio and high-end exercise bikes, a resort-style outdoor courtyard with grilling stations and fire pits, a dog park and pet spa, and multiple co-working spaces. To improve the resident experience, Northland plans to implement strategies such as smart-home technology, bulk internet, and an expanded valet trash program.