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Princeton Properties purchases two apartment communities in New Hampshire

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Princeton Properties, a privately held Lowell, MA-based real estate investment company, today announced the acquisition of Winter Street Apartments in Claremont, NH and Brookside Apartments in Keene, NH.

LOWELL, Mass. - Rezul -- CLAREMONT, NH AND KEENE, NH – Princeton Properties, a privately held Lowell, MA based real estate investment company, today announced the acquisition of 143 of the 144 units located at Winter Street Apartments in Claremont, NH and 43 of the 48 units located at Brookside Apartments in Keene, NH. Both acquisitions were purchased from affiliated entities of DLC Investments.  These two acquisitions successfully expand Princeton's footprint of apartment ownership throughout New Hampshire. At that time of acquisition, both properties were above 95% occupied.  With these two additional properties added to Princeton's inventory, Princeton's portfolio of apartments under management eclipses 7000 units throughout Massachusetts, Maine, and New Hampshire. Over the next 12 months, Princeton plans to modernize these units, maintain occupancy and rents at market levels, allowing the company to once again generate favorable returns for its investors.

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The well positioned apartments serve the vibrant collegiate community of Keene, NH and the revitalized and bustling community of Claremont, NH. Top rated shopping, dining, and entertainment amenities are within walking distance of both properties.  Princeton is excited to be part of both vibrant NH communities. The widespread economic momentum found in these local economies results in increased demand for housing from area employers. "Princeton's competitive advantage is its expertise and deep roots in New England; coupled with judicious experience in identifying attractive economic and demographic fundamentals in up and coming secondary markets," says Daniel Endyke, Vice President of Acquisitions and Development for Princeton.

About Princeton Properties
Princeton Properties;  a real estate investment company based in Lowell, Massachusetts. Since 1973, Princeton has acquired and managed residential developments throughout New England, Atlanta, and South Florida. In the last five years, Princeton acquired, built, rehabilitated, managed and  leased  nearly 2,000 multi-family units. Princeton is an opportunistic investor. Today, in its constant effort to operate ahead of the mainstream, Princeton is focusing exclusively on investments that are outside of the urban corridor. Please visit www.princetonproperties.com for more information on the firm.

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Sarah Greenough
Princeton Properties

Source: Princeton Properties
Filed Under: Real Estate

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