North Providence Apartments Trade to FPA Multifamily
A CBRE team led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler completed the $52.5-million sale of Residences at Brentwood, a 240-unit apartment community in North Providence, RI. CBRE represented the seller, TMI The Residences at North Brentwood, an affiliate of Wellesley-based Taymil Partners, and procured the buyer, FPA Multifamily, LLC.
Residences at Brentwood was built in 1987 with a mix of one- and two-bedroom apartments with an average unit size of 692 square feet. The property offers a complete amenity package for renters, including an indoor and outdoor pool, fitness center and clubhouse. It offers easy access to downtown Providence and I-295, according to CBRE.
Butler said, “We are pleased to have represented Taymil Partners in the sale of Residences at Brentwood. The property offers FPA the opportunity to create strong returns through their value-add execution.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout