Boston– CBRE announced the sale of the Residences at Brentwood, a 240-unit apartment community located in North Providence, Rhode Island, for $52.5 million. The transaction marks a significant multifamily investment deal in the northern Rhode Island market.
CBRE’s Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler represented the seller, TMI The Residences at North Brentwood, an affiliate of Wellesley-based Taymil Partners, and also procured the buyer, FPA Multifamily, LLC, a national real estate investment firm.
Built in 1987, Residences at Brentwood consists of a mix of one- and two-bedroom apartments averaging 692 square feet. The property features a full suite of amenities, including both indoor and outdoor swimming pools, a fitness center, and an expansive clubhouse. Its location offers residents convenient access to downtown Providence and major highways, including Interstate 295.
“We are pleased to have represented Taymil Partners in the sale of Residences at Brentwood,” said Simon Butler of CBRE. “The property offers FPA the opportunity to create strong returns through their value-add execution.”
The transaction reflects continued investor interest in well-located suburban multifamily assets across New England, especially those with renovation and repositioning potential.
