REBusinessOnline

Talonvest Arranges $17.4M Acquisition Loan for Self-Storage Portfolio in Rhode Island

Rhode Island — Talonvest has arranged a $17.4 million acquisition loan for a self-storage portfolio in Rhode Island. The three properties consist of 1,416 storage units across 177,575 square feet. Erich Pryor, Jim Davies, Tom Sherlock, and Terra Hendrich of Talonvest represented the borrower, Rosewood Property Co. in the transaction. The lender was a national bank. Terms of the financing included a 10-year, fixed-rate loan with interest-only payments for the full loan term. The three metro …

HFF Brokers Sale of 101-Room Hampton Inn & Suites in Rhode Island

SMITHFIELD, R.I. — HFF has brokered the sale of the Hampton Inn & Suites Providence/Smithfield, a 101-room hotel in Smithfield. The sales price was undisclosed. Located at 945 Douglas Pike, the four-story hotel features 22 suites. Amenities include an indoor heated pool, fitness center and guest laundry facilities. Daniel C. Peek, Denny Meikleham, Alan Suzuki, KC Patel, Matthew Enright and James Koury of HFF represented the institutional seller in the transaction. The buyer was Excel …

Excel Group Acquires Three-Hotel Portfolio in New York, Rhode Island and Virginia

FARMINGVILLE, N.Y., SMITHFIELD, R.I., AND HERNDON, VA. — Washington D.C.-based real estate investment firm Excel Group has acquired three hotel properties in New York, Rhode Island and Virginia. The price and seller were not disclosed. The properties are the 161-room Hampton Inn Long Island Brookhaven in Farmingville; the 101-room Hampton Inn & Suites Providence-Smithfield in Smithfield; and the 151-room Hyatt Place Dulles Herndon-East

NKF Arranges $71M Sale of Office Building in Providence, Rhode Island

PROVIDENCE, R.I. — NKF has arranged the $71 million sale of a 202,096-square-foot office building in downtown Providence. Located at 10 Memorial Boulevard, the 10-story property is currently 97 percent leased to a tenant roster that includes IGT, Columbia Threadneedle Investments, The Capital Grille and Rockland Trust. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF’s Boston Capital Markets team represented the seller, RJ Kelly Co., in the transaction. The buyer …

Greystone Arranges Sale of Two-Property Seniors Housing Portfolio in Rhode Island

PROVIDENCE, R.I. — Greystone Real Estate Advisors has closed the sale of two seniors housing properties in Rhode Island: Chapel Hill in Cumberland and Smithfield Woods in Smithfield. The sales price was not disclosed. Both properties are located in the Providence metro area. Mike Garbers and Cody Tremper of Greystone Real Estate Advisors represented the seller in the transaction, a publicly traded REIT. The buyer was a partnership between GMF Capital, a New York-based private equity firm, and …

CBRE Orchestrates Sale of 64,000 SF Industrial Facility in Pawtucket

PAWTUCKET, R.I. — CBRE has arranged the sale of a 64,000-square-foot industrial flex facility in Pawtucket. Located at 670-710 Narragansett Park Drive, the property is currently 96 percent occupied by a tenant roster that includes Cintas, Granite City Electrical Supply, Johnson Controls, Rhode Island PBS, Shred-It and Sprint Corp. Situated on the first turn of the former Narragansett race track where famed race horse Seabiscuit once ran, the building and park are adjacent to the East …

EagleBridge Capital Secures $25.1M Construction Loan for Apartment Building in Rhode Island

PROVIDENCE, R.I. — EagleBridge Capital has arranged a $25.1 million construction loan for the development of Chestnut Commons, a six-story, 116,000-square-foot apartment building in Providence. Located at 91 Chestnut St. in downtown Providence, the property consists of 92, one- and two-bedroom units as well as 6,000 square feet of street-level retail space. Amenities will include a fitness center, rooftop terraces and covered parking. Brian D. Sheehan and Ted. M. Sidel of EagleBridge secured …

Colliers Arranges $16M Refinancing for Multifamily Community in Rhode Island

WARWICK, R.I. — Colliers International has arranged a $16 million loan to refinance Briarwood Meadows, a 552-unit multifamily community in Warwick. The 36-acre property consists of 32 residential buildings as well as a fitness center, indoor pool, tennis courts and a clubhouse. Kevin Phelan and Sean Burke of Colliers arranged the fixed-rate financing on behalf of the borrower, The Driscoll Co. Principal Real Estate Investors provided the

Cornerstone Realty Capital Secures $2M Refinancing for Mixed-Use Portfolio in Pawtucket

PAWTUCKET, R.I. — Cornerstone Realty Capital has secured a $2 million refinancing for a mixed-use portfolio in Pawtucket. The portfolio includes a total of 29 apartments and two retail spaces across three properties. All three properties have undergone recent renovations. Patrick Brady of Cornerstone secured financing on behalf of the undisclosed borrower. The lender was

Fantini & Gorga Secures $7M in Financing for Boutique Hotel in Providence, Rhode Island

PROVIDENCE, R.I. — Fantini & Gorga has secured $7 million in permanent financing for The Dean, a 52-room, four-story boutique hotel in Providence. Derek Coulombe and Lindsay Feig of Fantini & Gorga secured the financing on behalf of the undisclosed borrower. The lender was a regional bank. The property is located in historic downtown Providence across from the Dunkin Donuts Center and Rhode Island Convention Center. The hotel was fully renovated in 2014. Terms of the financing were …

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