Tuesday, October 10, 2017

Elm Grove Companies Expands into Concord with 45,000 sq. ft. Downtown Mixed-Used Re-Development

Concord, NH - Elm Grove Companies has acquired 4 brick buildings with over 45,000 sq. ft. of space on Pleasant and South State Streets in Concord, NH.  The properties are on 5 separate deeds and were purchased from two separate owners for a total of $2,395,000.
The acquisitions afford Elm Grove an opportunity to work with the City of Concord and perform a mixed use re-development effort in the heart of the thriving downtown.  The properties include the handsome Star and Kearsarge buildings, which will benefit from millions of dollars in modern upgrades and restoration, while maintaining the historic feel and facades.

Elm Grove Companies has experience in similar re-development efforts, having recently completed “The Flats @ Hanover Commons”, a 22,000 sq. ft. mixed-use building at 235 Hanover Street in downtown Manchester. As the first micro-living concept in New Hampshire, it includes 32 high-end apartments, 5 offices, a restaurant, courtyard, laundry facilities, and gym. The property was well received by the local community and officials, becoming fully occupied within 3 months of opening.
Elm Grove’s vision for the four buildings calls for 41 high-end apartments and 18,000 sq. ft. of commercial space – including existing retail shops, coffee shop, pizza shop, Asian noodle shop, and office space.  The apartments will be a mix of micro-living “min-i flats,” 1, 2 and 3 bedroom apartments. 

“All efforts will be made to include a rooftop deck with a view of our Capitol’s golden dome, though we are not yet in a place to promise that,” said Elm Grove’s David Schleyer. “The response by the City, local developers and community organizations in welcoming Elm Grove has been heartwarming. The City cares about downtown’s revitalization and has been aggressive in breaking down barriers and helping us define a clear path toward a successful re-development.”

This acquisition represents the fourth in a year that was made possible through private equity syndication.  Elm Grove has been successful in raising money from accredited investors to make this project and others possible.

“Elm Grove has been fortunate to have a strong and growing base of equity investors who share our vision for re-developing New Hampshire communities,” said Elm Grove’s Newton Kershaw III, “Without them, we could not do these projects - period. They want a return on their investment, of course, but more, they value local impact investing where they can see positive outcomes in the places they live, work and play.”

Debt for the acquisitions was provided by Bangor Savings and was procured with the help of Pat Brady of Cornerstone Realty Capital.

About Elm Grove Companies

Elm Grove Companies is New England’s full service real estate investment firm, headquartered in Manchester with offices throughout New Hampshire and Central Massachusetts. This vertically integrated company combines property management, real estate investments, brokerage services and construction services all under one roof. Elm Grove currently owns and manages over 1,300 apartments, with 75 employees. For more information, visit elmgrovecompanies.com.

Elm Grove Companies Acquires Manchester’s Ted Herbert’s building for $1.45 million


Manchester, NH - Elm Grove Companies has acquired 922 Elm Street, Manchester, NH for $1,450,000.  The former Ted Herbert’s building consists of 33,000 square feet on four floors and directly abuts Manchester City Hall.
The acquisition of the property opens the door for Elm Grove to execute on its second downtown Manchester mixed-use project.  Currently, the property is one of the few dark and lifeless buildings in the heart of Elm Street, and Elm Grove is looking forward to the revitalization of the area.
Last year Elm Grove completed the highly anticipated, “The Flats @ Hanover Commons,” a 22,000 sq. ft. mixed-use building at 235 Hanover Street, the former Farnum Center, in downtown Manchester. As the first micro-living concept in New Hampshire, it includes 32 high-end apartments, 5 offices, a restaurant, courtyard, laundry facilities, and gym. The property was well received by the local community and officials, becoming fully occupied within 3 months of opening.
The project plan for 922 Elm Street, Manchester, NH includes 30 high-end 1 bedroom apartments on the upper three floors, a 6,000 sq. ft. ground level restaurant on Elm Street, and 2,000 sq. ft. of retail space. Elm Grove’s vision for the space includes cool features such as balconies on interior units facing an open air atrium garden, a fitness room and rooftop deck.
This acquisition represents the fourth in a year that was made possible through private equity syndication.  Elm Grove has been successful in raising money from accredited investors to make this project and others possible.
“The appetite by our investors to participate in this project was amazing,” said Elm Grove’s Newton Kershaw III, “We have continued to have more interest from equity investors than we are able to place in each of our syndicated re-development projects. The desire of investors to earn a return was expected; the need for investors to feel that their investments are having a community impact has been the differentiator.  Our investors share the pride that Elm Grove has in breathing new life into our New Hampshire communities.”
Debt for the acquisitions was provided by Bangor Savings Bank and the Concord Regional Development Council (CRDC) and was procured with the help of Pat Brady of Cornerstone Realty Capital.

About Elm Grove Companies
Elm Grove Companies is New England’s full service real estate investment firm, headquartered in Manchester with offices throughout New Hampshire and Central Massachusetts. This vertically integrated company combines property management, real estate investments, brokerage services and construction services all under one roof. Elm Grove currently owns and manages over 1,300 apartments, with 75 employees. For more information, visit elmgrovecompanies.com.


Friday, March 3, 2017

Elm Grove Acquires 66 NH Apartments for $8 Million

We’re excited to announce our latest acquisition of 66 apartments in Londonderry and Litchfield. Read about our latest endeavor in the March issue of the New Hampshire Business Review.

Sunday, March 15, 2015

Newton H. Kershaw III Joins New Hampshire Clean Tech Council Advisory Committee

The New Hampshire Clean Tech Council today announced that Newton Kershaw and Harold Turner have joined its Advisory Committee.

Newton H. Kershaw III, is CEO and Head of Acquisitions and Finance for Elm Grove Companies, a vertically integrated, full-service real estate company operating throughout New Hampshire and Massachusetts. Kershaw is also current board member and former Chairman of the Board of the Manchester Development Corporation and a Trustee of the Manchester Historic Association. He resides in Manchester with his wife and two children.

Harold Turner, is Founder and President of The H.L. Turner Group Inc. a professional team of Architects, Engineers, and Building Scientists serving business, industry and government and recognized for their award winning environmental building designs and as an industry leader in promoting healthy buildings, sustainable design, and enhanced learning environments. Turner resides in Concord with his wife.

“Our Advisory Committee continues to attract thoughtful business leaders who realize that the time is now to advocate for our state’s energy future,” said Kate Epsen, NH CTC Executive Director. “Newton and Harold are leaders in their field in innovation, technology and energy efficiency. Their experience and deep business network will be extremely valuable to the CleanTech Council moving forward and I am thrilled that they’ve agreed to join our Advisory Committee.”

“The New Hampshire CleanTech Council is a bi-partisan advocate for a clean technology industry that will create new jobs and help strengthen New Hampshire’s innovation economy. I’m pleased to be working with them,” said Harold Turner.

Other members of the New Hampshire Clean Tech Council Advisory Committee include Steve Duprey, Clay Mitchell, Charlie Bass and George Bald. For a complete list of committee members please click here.

About the New Hampshire CleanTech Council


The NH CleanTech Council (NHCTC) represents and advocates for New Hampshire’s clean technology and clean energy business sector, focusing on the economic benefits and jobs that can come from a vibrant clean tech industry and the policies that enable stability, competition and investment in that industry. NHCTC acts as the advocacy arm of the NH Sustainable Energy Association, a statewide non-profit.

Wednesday, October 15, 2014

Kindler Development Group Assists in the Revitalization of Downtown Manchester Apartments

Kindler Development Group, a member of the Elm Grove Companies family, has been completed several projects that will bring revitalization and luxury to downtown Manchester. The Manchester based construction company has just finished developing a second apartment in a historical building in the heart of Manchester’s downtown.

Kindler Development Group has a continued to focus on preserving historical aspects of the spaces it renovates. In 2013, the company received the Neighborhood Improvement Award from the Manchester Historic Association for work on another downtown Manchester building, the 18 unit Allyson Apartments Building at 307 Merrimack Street.

The 4th and 5th floor of a downtown office building were converted to luxury apartments during the recent renovation. Kindler used high quality products and innovative design concepts to achieve the desired look of these apartments. Original brick walls were re-exposed, original building components were re-purposed, and "open-space" living areas were created around the industrial sized windows overlooking downtown Manchester.

“All of the work we are doing in these apartments is in an effort to bring life back into these older buildings, while being careful to preserve the historical integrity of the space,” said Josh Hamel, President of Kindler Development Group. “We are proud to be a part of projects like this and hope to have the opportunity to be involved in more rehabilitation and revitalization projects in the Manchester community in the future.”

About Kindler Development Group

Kindler Development Group is one of the premier commercial and residential construction and development companies in the area. With over fifty years of combined experience behind the team at Kindler, they have become a trusted source for New England families and business owners.

Monday, June 16, 2014

Elm Grove Companies Wins the 2014 BBB Torch Award

Elm Grove Companies wins the Better Business Bureau's prestigious Torch Award for Marketplace Ethics in the medium category. The Elm Grove team prides itself in forming partnerships and having high ethical standards in business operations and communications. They feel customer service is of the utmost importance in their industry, which is evident in their availability to customers 24 hours a day, 7 days a week.

"We are thrilled to have received this award," said Elm Grove CEO David Schleyer. "We pride ourselves on our ethical standards and do our best to instill our practices into every aspect our business."


Friday, August 30, 2013

Elm Grove Companies is named the 2013 NH Real Estate Business of the Year



Business NH Magazine recently recognized Elm Grove Companies as the 2013 Business of the Year for a Construction/Engineering/Real Estate firm.

Business NH Magazine was started in 1983 as New Hampshire's first statewide monthly business publication, but overtime has developed a readership of 50,000. The magazine focuses on in-depth business coverage, showcasing the strength of the New Hampshire's business community.

There are decades of real estate experience between Elm Grove’s top executives Co-CEO’s David Schleyer and Newton Kershaw III and newly appointed COO Chris Schleyer. Recently, the Manchester Historic Association awarded Elm Grove Companies with the Neighborhood Improvement Award for the rehabilitation of the historic Allyson Apartments at 307 Merrimack Street. This company has made great strides to preserve the integrity of historic buildings and landmarks in the Manchester community. Additionally, Elm Grove’s COO Chris Schleyer has volunteered to serve on the Bed Bug Action Committee to teach and inform other landlords on how to battle the bed bug infestations that have affected many in the community.

Although Elm Grove Companies and its executives are involved with many community and nonprofit organizations, Elm Grove has formed a close relationship with the The Way Home, a local nonprofit that helps the homeless to find affordable housing. Elm Grove purchased $10,000 in tax credits to aid in fundraising efforts to build housing for homeless veterans. The company also manages buildings with The Way Home and offers apartments below market rent to the chronically homeless and their families.

Elm Grove Companies is one of the premier property management, real estate and development firms in the area. Under the umbrella of Elm Grove Companies consists three subsidiaries; Elm Grove Property Management, Elm Grove Realty, and Kindler Development Group. The company owns and manages over 800 units with offices in Manchester, Pittsfield and Franklin. Elm Grove has brokered, bought and sold over 150 homes, multi-families and commercial buildings, has renovated over 500 distressed properties, and has participated in several major construction and development projects.

“We are extremely honored to be receiving the 2013 Business of the Year Award.” said Elm Grove Companies COO Chris Schleyer. “We would not have been able to reach this company milestone without the continued efforts by the entire Elm Grove team. We envision strong and persistent growth in the future ahead of us.”