News: Rhode Island
Posted: June 14, 2024
Northeast Private Client Group closes 12-unit URI Townhouses - $6.125 million
Kingston, RI Northeast Private Client Group (NPCG) has closed the $6.125 million sale of The URI Townhouses, a 12-unit, three building multifamily property, located at 58 Fortin Rd.
Vice president, investments Tim McGeary and associate Rick Welch represented the seller and procured the buyer.
“Being adjacent to The University of Rhode Island, The URI Townhouses drew immediate interest from buyers throughout the New England and tri-state area. The competition created around this asset led to a purchase from an out-of-state investor. Thanks to the sellers organized operation this made for an easy transaction on the buyer’s side,” said McGeary.
MORE FROM Rhode Island
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary