Cushman & Wakefield Arranges $26.94M Sale of Multi-Family Asset in Providence
Jayden Lapin-Tatman • 2/15/2022
Cushman & Wakefield’s Chris Sower, Bruce Lusa, Jonathan Bryant, John Flaherty, Kevin Jones, Julie Regan and Mary VanNatta represented the seller, Armory Revival Company, in the transaction. The asset was acquired by FPA Multifamily, LLC.
“Rising Sun Mills offered investors the rare opportunity to acquire a well-maintained, value-add multi-family asset,” said Sower. “With the strength of today’s apartment market, we saw significant interest in this strategically located property.”
Rising Sun Mills is a unique brick and beam apartment community strategically located in the heart of Providence. The four-story brick mill building consists of 135 loft-style units and 30,000 square feet of commercial space. The property consists of 31 studio units, 69 one-bedroom units and 35 two-bedroom units.
The asset is situated on Providence’s west side at the intersections of the transforming neighborhoods of Federal Hill, Broadway and the Armory District. The property was converted from its former industrial use in 2005 and is surrounded by a rich array of bars and restaurants, retail options and green space.
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.