PROVIDENCE REALTY ACQUIRES AFFORDABLE HOUSING PORTFOLIO FOR $54.8 MILLION

RHODE ISLAND — Providence Realty Investment has purchased a 10-property affordable housing portfolio in Rhode Island for $54.8 million. The properties contain a total of 708 units and are located in the cities of Providence, Woonsocket, Cumberland, North Smithfield, Wakefield, Warwick and Cranston. The Cushman & Wakefield team of Simon Butler, Biria St. John, Michael Byrne and Christopher Sower represented the seller, Cumberland, Maine-based SHP Acquisitions. Providence made the purchase on behalf of its affiliate, Rhode Island Homes.