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120 unit Laconia apartment complex sold for $4.9 million

LACONIA — For the first time in three decades Lakeshore Estates, an apartment complex on Blueberry Lane, has changed hands. The NAI Norwood Group of Bedford announced yesterday that the Estates Circle Apartments, LLC, whose principal is David L. Goolgasian, Jr. of Jupiter, Florida, acquired the land and four buildings for $4.9 million last month.

The complex, consisting of 120 units divided among four three-story buildings with a swimming pool on 6.38 acres, was built by Marina Development, Inc. in 1974 and subsequently acquired by Lakeshore Estates Associates, LLC of Laconia in 1982. At the time of the sale 112 of the 120 were leased. The property was assessed by the city for $2,769,300.

The transaction was financed by Franklin Savings Bank with participation of Sugar River Bank. In a prepared statement the new owners assured tenants that they intend to manage the complex in the manner of the previous owners and plan to improve the interior of the units as well as upgrade other aspects of the property.

 
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