CBRE Arranges Sale of 140-Unit Mill Creek Townhomes

North Kingstown, RI – Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler introduced the sale of Mill Creek Townhomes, a 140-unit, 100% market-rate house neighborhood in North Kingstown, Rhode Island.

CBRE represented the vendor, an affiliate of The Grossman Firms, a Quincy, MA-based actual property funding agency. The staff additionally procured the client, Landings Actual Property Group, a non-public actual funding group based mostly in Newport, RI.

In-built two phases in 1968 and 2006, Mill Creek Townhomes is comprised of 31 residential buildings along with a clubhouse. The neighborhood presents a mixture of spacious two-, three-, and four-bedroom direct entry houses with a median dimension of 1,126 sq. toes. Unfold out over 47 acres (3.0 models per acre), the neighborhood presents a quiet, low-density neighborhood near buying, seashores, and main roadways. The property can be near Quonset Enterprise Park and presents entry straightforward to Windfall through I-95 to the North.

CBRE’s Simon Butler mentioned, “We’re happy to have represented The Grossman Firms within the sale of Mill Creek Townhomes after many a long time of stewardship. The property presents the Landings Actual Property Group the power to earn robust long run returns via the execution of their value-add program and substantial capital funding.”

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