Marcus & Millichap Inc.
11/10/2026 | Press release | Archived content
Marcus & Millichap Brokers $9.4M Sale of Multifamily Property in Portsmouth, New Hampshire
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Marcus & Millichap Brokers $9.4M Sale of Multifamily Property in Portsmouth, New Hampshire
November 10, 2026
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PORTSMOUTH, N.H., Nov. 10, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Monarch Village, a six-building multifamily property in Portsmouth, New Hampshire. The asset sold for $9.4 million.
"Monarch Village is a recently renovated well-located property," said John Craig, director investments in Marcus & Millichap's Boston office. "We conducted 15 tours with buyers from multiple states. The winning buyer was looking to enter the Portsmouth market and leverage its other southern New Hampshire assets."
Craig and Tanner Proper of Marcus & Millichap, in association with Thomas Shihadeh, the firm's broker of record in New Hampshire, exclusively marketed the property on behalf of the seller, Monarch Village LLC, and procured the buyer, Avise Properties.
"Tanner's communication and responsiveness were excellent throughout the process, and John worked tirelessly to solve difficult issues and keep the transaction moving forward," said John at Monarch Village LLC. "We are incredibly grateful for their dedication and firmly believe their efforts were instrumental in getting this deal done."
Located at 3548 Lafayette Road, Monarch Village totals 35,579 square feet on a 3.8-acre lot. It was built in 1955 and underwent extensive renovations in 2023 and 2024. The 39-unit mix includes 19 studios, 11 one-bedroom, seven two-bedroom, and two three-bedroom apartments across six buildings. The property also includes a fully approved development opportunity for two additional apartment buildings totaling 36 units, creating the potential for a 75-unit multifamily community upon completion.
Monarch Village is less than five miles from downtown Portsmouth, close to Portsmouth International Airport, beaches and New Hampshire state parks. It is near U.S. Route 1 and Interstate 95 offering access to Manchester, Concord and Boston.
"Portsmouth and southern New Hampshire continue to attract strong buyers who want to avoid potential rent control in Massachusetts and see the opportunity for more significant rent growth," added Proper, associate investments.
"Monarch Village is a recently renovated well-located property," said John Craig, director investments in Marcus & Millichap's Boston office. "We conducted 15 tours with buyers from multiple states. The winning buyer was looking to enter the Portsmouth market and leverage its other southern New Hampshire assets."
Craig and Tanner Proper of Marcus & Millichap, in association with Thomas Shihadeh, the firm's broker of record in New Hampshire, exclusively marketed the property on behalf of the seller, Monarch Village LLC, and procured the buyer, Avise Properties.
"Tanner's communication and responsiveness were excellent throughout the process, and John worked tirelessly to solve difficult issues and keep the transaction moving forward," said John at Monarch Village LLC. "We are incredibly grateful for their dedication and firmly believe their efforts were instrumental in getting this deal done."
Located at 3548 Lafayette Road, Monarch Village totals 35,579 square feet on a 3.8-acre lot. It was built in 1955 and underwent extensive renovations in 2023 and 2024. The 39-unit mix includes 19 studios, 11 one-bedroom, seven two-bedroom, and two three-bedroom apartments across six buildings. The property also includes a fully approved development opportunity for two additional apartment buildings totaling 36 units, creating the potential for a 75-unit multifamily community upon completion.
Monarch Village is less than five miles from downtown Portsmouth, close to Portsmouth International Airport, beaches and New Hampshire state parks. It is near U.S. Route 1 and Interstate 95 offering access to Manchester, Concord and Boston.
"Portsmouth and southern New Hampshire continue to attract strong buyers who want to avoid potential rent control in Massachusetts and see the opportunity for more significant rent growth," added Proper, associate investments.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on November 10, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 13, 2026 at 21:42 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]