CRDC Assists in the Financing Purchase of 225-acres of Real Estate in Chichester

Finding their way back to New Hampshire after a career in Boston, Massachusetts, David and Toutou Marsden knew they didn’t want to go back to the corporate world. Instead, the couple journeyed into the hospitality industry; buying Dell-Lea, a wedding and special event business located in rural, Chichester, New Hampshire. The business located on 225 acres of what was once a working farm; is now one of New Hampshire’s premier full-service wedding venues accommodating more than 200 guests at one time.

“After leaving Boston we took some time off and traveled abroad for a few years.  Upon our return we needed jobs,” said David Marsden, owner & operator Dell-Lea. “We knew we wanted to own our own seasonal business; we just didn’t know what kind of business.”

In 2016, through a commercial real estate broker, the Marsden’s found Dell-Lea.  Within 30 minutes of touring the business they made an offer. “We initially purchased the business and leased the property with the option to buy,” added David. “With the success we were having it made sense to obtain the real estate. After a year of negotiating we closed on the property in the Spring of 2020- although we probably wouldn’t have been able to do it without gap financing assistance provided by CRDC.”

“We worked closely with the Marsden’s and Merrimack County Savings Bank to create a loan package that included financing for the purchase of the property and included flexibility for capital improvements,” said Jennifer Boulanger, CRDC Loan Officer. “Dell-Lea’s reputation in the industry is outstanding and although 2020 wasn’t the year David or Toutou expected, they perserved and are ready and are well positioned for a great 2021 season.”

“Communication is everything,” said David. “We have been very proactive and transparent with our clients. We found that to be the same with CRDC and Merrimack County Savings Bank. It was clear they worked together. It was a seamless closing for us.”

For more information about Dell-Lea visit their website at https://www.dell-lea.com/.