LONDONDERRY – Elm Grove Companies recently announced the sale of 48 apartments on Stonehenge Road to 333 Four, LLC for $11,150,000.

“The sale represented a strategic win for our investors, who were repaid early with a return multiple well exceeding the return projected at the time of acquisition in 2017,” said Elm Grove Co-Founder Newton Kershaw III. “Elm Grove was successful in the implementation of a business plan which included apartment renovations and, working with abutters, the city of Londonderry and the New Hampshire Department of Environmental Services, replaced an aged and obsolete private water system with a system connected to the public water provider, Pennichuck Water Works.”

Elm Grove was represented by Dennis Kelleher and William Peck of investment real estate firm Horvath & Tremblay.