News: Front Section
Posted: March 1, 2019
Boston Realty Advisors opens commercial real estate brokerage office in Providence - Managed by Bilotti
Providence, RI Boston Realty Advisors has opened a commercial real estate brokerage office in Providence. The new office will be managed by industry veteran Christopher Bilotti and will serve Providence and southeast Massachusetts.
“We’re thrilled to onboard Chris Bilotti and his team. Their hyper focused market knowledge is consistent with the standard we set and deliver in Boston,” said Jason Weissman, founding partner and CEO of Boston Realty Advisors. “In order to be an effective commercial real estate advisor, it’s imperative to have experience as an investor. Chris brings both ownership perspective and an impressive investment track record in Providence and throughout southern New England.”
Bilotti is a CPA and was the CFO for Boston-based Mount Vernon Co. He owns and manages 700 multifamily units throughout southeast Massachusetts and Rhode Island. Bilotti said, “I’m excited about joining Boston Realty Advisors and being able to leverage the recognized brand and marketing platform to expand our business in Providence.”
Boston Realty Advisors enters the city with multiple positive market indicators. The government of Providence has administered a surplus three years in a row, ending fiscal 2018 with a $9.2 million surplus. According to The Rhode Island Commerce Corp., there’s a growing workforce of 4.7 million people that live within a one hour commute to the city. East Providence has experienced an explosive growth rate in the residential market and with the completed relocation of I-195, AKA the Iway, and the addition of new mixed-use developments such as the Wexford Science & Technology Innovation complex and South Street Landing, the city expects future economic growth from multiple industries.
Bilotti and his team of six were responsible for 55 transactions in 2018. The team, now identified as Boston Realty Advisors, will advise landlords, tenants, individuals, investors and institutions on the acquisition and disposition of office buildings, retail centers, industrial parks, multifamily assets, hospitality centers and land for development.
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