NH Business Review
Boston firm acquires 252-unit Timberwood Commons
March 3, 2021
Timberwood Commons, a 252-unit market-rate multifamily complex in Lebanon, has been sold for $69.25 million.
The buyer, an affiliate of Audubon Capital Partners of Boston, acquired the 42.63-acre community from Philadelphia-based Merion Realty Partners. CBRE Capital Markets’ Simon Butler, Biria St. John and John McLaughlin represented Merion and procured the buyer.
Located less than a mile from Dartmouth-Hitchcock Medical Center, the complex sits on 42.63-acres with five three-story garden-style buildings and a five-story elevatored midrise building.
The community also features a freestanding clubhouse with a business center, community room and fitness center. According to CBRE, Merion, which acquired Timberwood in June 2014, had recently started a renovation program including the installation of plank flooring and installation hard-surface countertops.