Vol.44, No.36
www.thewarrengroup.com
W E E K O F M O N D A Y, S E P T E M B E R 5 , 2 0 2 2
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
REINVESTMENT REFORM
Nashua
55 NORTHEASTERN BLVD. . . . . . . . . . . . . . . . . . . . . $15,700,000 B: Southern NH Industrial Owner 3 LLC S: 1987 Tamposi LP Mtg: HarborOne Bank $76,373,000 Use: Mixed Use-prim Indust & Othr, Lot: 950479sf 486 AMHERST ST. . . . . . . . . . . . . . . . . . . . . . . . . . . $12,500,000 B: Southern NH Industrial Owner 4 LLC S: Samuel A Tamposi Sr T & LJJ Realty LLC Mtg: HarborOne Bank $76,373,000 Use: Industrial Office Building, Lot: 353707sf
Salem
Nashua
85 NORTHWEST BLVD. . . . . . . . . . . . . . . . . . . . . . . . . $9,900,000 B: Southern NH Industrial Owner 2 LLC S: Sat SR LP
Portsmouth
1900 LAFAYETTE RD. . . . . . . . . . . . . . . . . . . . . . . . . . $9,819,866 B: HPIII Boston Portsmouth LLC S: Running Man Partners LLC Mtg: Primary Bank $10,725,000 Use: Mixed Use-prim Comm & Other, Lot: 173253sf
Amherst
10 COLUMBIA DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000,000 B: S NH Industrial Owner 1 S: Sat SR LP & Saminist Realty LLC Mtg: HarborOne Bank $76,373,000 Use: Manufacturing Building, Lot: 258746sf
Nashua
4 TOWNSEND W . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,800,000 B: Southern NH Industrial Owner 4 LLC S: 4 Townsend West LLC Mtg: HarborOne Bank $76,373,000 Use: Commercial Warehouse, Lot: 239580sf 10 STATE ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,700,000 B: Southern NH Industrial Owner 1 LLC S: 1987 Tamposi LP Mtg: HarborOne Bank $76,373,000 Use: Industrial Warehouse, Lot: 196238sf
Salem
18 HAMPSHIRE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $5,400,000 B: Southern NH Industrial Owner 2 LLC S: 1987 Tamposi LP Mtg: HarborOne Bank $76,373,000
Londonderry
11 DELTA DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,525,000 B: Southern NH Industrial Owner 1 LLC S: Samuel A Tamposi Sr Tr, Tr for S A Tamposi Sr 1992 T Mtg: HarborOne Bank $76,373,000 Use: Industrial Warehouse, Lot: 129369sf
Hopkinton
756 CLEMENT HILL RD. . . . . . . . . . . . . . . . . . . . . . . . $4,300,000 B: Garrett E Mikita Tr, Tr for Garrett E & Deborah L Mikita T S: Hopkinton Retreat LLC Mtg: JPMorgan Chase Bank $1,500,000 Use: 4 Bdrm Contemporary, Lot: 3049200sf
T
he latest attempt to renovate the Community Reinvestment Act could pose serious challenges for larger banks that have used online lending to find business over a wide area. A yearslong effort to modernize CRA now accounts for online banking and lending activities, yet still keeps branch networks at the center of federal CRA examinations of whether banks are not discriminating in where they make their loans. For smaller banks, the proposed CRA changes should have little impact on how they define the geographical area that regulators will assess when determining whether they meet a community’s credit needs. But for larger banks, including those that offer online loans outside their branch networks, the proposed changes have raised concerns about the areas where they will be assessed for CRA activities. “The sheer amount of detail has been overwhelming for our members, particularly community banks that are considered Large Banks for CRA purposes” with $2 billion in assets or more, the American Bankers Association said in a comment letter to federal regulators co-signed by NH Bankers, the state’s banking trade group. After the last attempt to update CRA ended
Even moderate-sized banks with more than 50 percent of their lending outside areas where they have branches will have their lending in those other areas considered as well.
with the three federal bank regulators failing to move forward together with a joint proposal, the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency have developed new rules together.
Branches and ATMs Remain Essential The proposed changes would represent the first significant update to CRA since 1995, and have generated a range of other controversies and critiques from banking groups and com-
munity advocates alike. The foundation of CRA exams is a bank’s assessment area, currently defined by banks based on areas surrounding physical branches and ATMs that accept deposits. To prevent redlining, banks cannot “arbitrarily exclude low- or moderate-income Census tracts” from their assessment areas, according to current regulations, and the areas cannot reflect illegal discrimination.
New Hampshire Market Statistics Single-Family Sales By Month 1,800 1800 1,400 1400
REAL ESTATE RECORDS
3 3 4 4 4 5 7 8 9 10 10 11 11 11
REGISTRY REVIEW STAFF
1,600 1600
INDEX COUNTY
Attempt to Adapt to Online Banking, Lending Stirs Controversy BY DIANE MCLAUGHLIN
1-7 MEISNER CIR. . . . . . . . . . . . . . . . . . . . . . . . . . . $10,400,000 B: 333 One LLC S: SMG Rosewood LLC
PG
CRA Reform Could Bring Bigger Assessment Areas
TRANSACTIONS THRU
Belknap �������������������������� 08/19/22 Carroll ���������������������������� 08/19/22 Cheshire ������������������������ 08/19/22 Coos �������������������������������� 08/19/22 Grafton ���������������������������� 08/19/22 Hillsborough ������������������ 08/19/22 Merrimack ���������������������� 08/19/22 Rockingham ������������������ 08/19/22 Strafford ������������������������ 08/19/22 Sullivan �������������������������� 08/19/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
1,200 1200 1,000 1000 800 800
Continued on Page 12
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600 600 400 400
July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb Feb. March Mar. April Apr. May May June June July July July ’21
’22
Number 2400 of 2,400 Sales 2200 2,200 2000 2,000 1800 1,800 1600 1,600 1400 1,400 1200 1,200
Feb. July ’17
Feb. July ’18
Feb. July ’19
Feb. July
’20
Feb. July ’21
Feb. July ’22
July 2017 July 2018 July 2019 July 2020 July 2021 July 2022
Number of Sales
Change Prior Year
2,016 2,019 1,918 1,773 1,464 1,326
10.34% 0.15% -5% -7.56% -17.4% -9.43%
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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