94-UNIT MULTIFAMILY COMPLEX SELLS FOR $6.8M IN R.I.

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CRANSTON, R.I. — The Residences at Garden City LLC has acquired Garden City Apartments, a 94-unit community in Cranston, for $6.8 million, or $72,473 per unit. Fenway Residential Properties LP sold the seven-building multifamily property. Constructed in 1948, the property is located adjacent to the Garden City Center plaza, about five miles south of Providence. Richard Robinson, Terence Scott, Jennifer Athas and Philip Lamere of Atlanta-headquartered ARA represented Fenway and procured the buyer in the transaction. Stephen Lewinstein and Paul Griesinger, also of ARA, assisted in representing the buyer.

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