Landings Real Estate Group Acquires MultiFamily Complex In North Kingstown For $27.6M

The sale of Mill Creek Townhomes at 425 Mill Creek Drive in North Kingstown, RI, a 140-unit market-rate apartment community, was facilitated by CBRE. The transaction involved Landings Real Estate Group as the buyer and an affiliate of The Grossman Companies as the seller. The sale price for this multifamily property was $27,600,000, with a per unit price of $197,143.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $27,600,000
• Units: 140
• Price Per Unit: $197,143
• Address: 425 Mill Creek Drive
• Market: North Kingstown, RI
• Buyer: Landings Real Estate Group
• Seller: Affiliate of The Grossman Companies
• Brokers: Biria St. John, Brian Bowler, John McLaughlin & Simon Butler - CBRE

CBE, with key representatives Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler, played a pivotal role in the successful completion of the transaction. They represented The Grossman Companies as the seller, ensuring a smooth handover to the Landings Real Estate Group as the new owner of Mill Creek Townhomes.