Tryko Partners Acquires Skilled Nursing Facility in North Providence for $14.5M

NORTH PROVIDENCE, R.I. — Tryko Partners has acquired Hopkins Manor, a 200-bed skilled nursing facility in North Providence, for $14.5 million. Located on four acres at 610 Smithfield Road, the property provides short-term rehabilitation, long-term, Alzheimer’s and dementia care services, as well as hospice and respite services. Tryko will invest $5 million to renovate the facility, which will be renamed Lincolnwood Rehabilitation & Healthcare

June 18, 2020Acquisitions, Multifamily, Northeast, Rhode Island, Seniors Housing

ESI Brokers Sale of 57-Bed Skilled Nursing Facility in Providence, Rhode Island

PROVIDENCE, R.I. — Evans Senior Investments (ESI) has brokered the $4.3 million sale of Elderwood at Riverside, a 57-bed skilled nursing facility in Providence. The property was constructed in 1962. The seller, an East Coast-based owner-operator, initially acquired the asset with the intent to move the licensed beds to a different county in Rhode Island. When regulatory obstacles prevented moving the licensed beds across county lines, the owner decided to exit the property through a sale at …

April 30, 2020Acquisitions, Multifamily, Northeast, Rhode Island, Seniors Housing

Eastie Realty Purchases Medical Office Building in Providence, Rhode Island, for $3.5M

PROVIDENCE, R.I. — Eastie Realty LLC, a Boston-based investment firm, has purchased a 13,818-square-foot medical office building in Providence for $3.5 million. Located at 111 Plain St., the property is fully leased to Rhode Island Hospital, the flagship hospital of Lifespan Health System. The building is also located near Hasbro Children's Hospital, Women & Infants Hospital and Brown University’s medical campus. Joseph Alvarado, George Deoulas and Casey Valente of Newmark Knight Frank …

April 14, 2020Acquisitions, Healthcare, Northeast, Rhode Island

CVS Health to Hire 50,000 Employees in Response to Coronavirus Outbreak

WOONSOCKET, R.I. — CVS Health plans to immediately hire 50,000 full-time, part-time and temporary employees across the country in response to healthcare needs generated by the coronavirus outbreak. Roles include store associates, home delivery drivers, distribution center employees and customer service professionals. The Rhode Island-based pharmacy and retail giant operates approximately 6,200 stores across 43 states. The company has also temporarily waived charges for home delivery of …

March 24, 2020Northeast, Rhode Island

WS Development Acquires 530,000 Garden City Center Retail Property in Cranston, Rhode Island

CRANSTON, R.I. — WS Development has acquired Garden City Center, a 530,000-square-foot retail property in Cranston, a southern suburb of Providence. Whole Foods Market anchors the retail center, along with Starbucks, Crate & Barrel, Pottery Barn and other tenants. Robert Griffin, Geoffrey Millerd and Justin Smith led a Newmark Knight Frank team that represented the seller, a public pension fund advised by TA Realty

February 4, 2020Acquisitions, Northeast, Rhode Island

Edgewood Group Acquires 42-Unit Multifamily Property in North Providence, Rhode Island

NORTH PROVIDENCE, R.I. — Edgewood Group has acquired Smithfield Manor, a 42-unit multifamily property in North Providence, for $3.1 million. The community has since been rebranded as The Belmore and is located in close proximity to Providence College, Rhode Island College, Our Lady of Fatima Hospital and downtown Providence. Edgewood plans to renovate the property, which was built in 1968, with interior and exterior upgrades as well as new signage and landscaping. The seller was

December 19, 2019Acquisitions, Multifamily, Northeast, Rhode Island

CBRE Brokers $20.4M Sale of Multifamily Property in Portsmouth, Rhode Island

PORTSMOUTH, R.I. — CBRE has brokered the $20.4 million sale of Bay View Estates, a 130-unit multifamily community in Portsmouth, located approximately 20 miles southeast of Providence. Bay View Estates comprises 72 apartments in a single eight-story high-rise building, 35 apartments in a garden building and 23 direct-access units in a terrace building. Floor plans include a mix of studio, one-bedroom and two-bedroom flats with an average size of 743 square feet per unit. Amenities include a …

December 17, 2019Acquisitions, Multifamily, Northeast, Rhode Island

Marcus & Millichap Arranges Sale of 458-Unit Self-Storage Facility in Central Falls, Rhode Island

CENTRAL FALLS, R.I. — Marcus & Millichap has arranged the sale of RI Self Storage, a 458-unit facility in Central Falls, a northern suburb of Providence. Located at 817 Dexter St., the facility comprises 316 climate-controlled units, 142 non-climate-controlled units and three office and warehouse spaces totaling 37,826 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, an undisclosed private investor. Nathan Coe and …

December 16, 2019Acquisitions, Industrial, Northeast, Rhode Island, Self-Storage

Gotham Greens Opens 100,000 SF Greenhouse in Providence, Rhode Island

PROVIDENCE, R.I. — Brooklyn-based agricultural company Gotham Greens has opened a 100,000-square-foot greenhouse in Providence. The project is located along the Woonasquatucket River, at the site of a former General Electric lighting factory. The new urban farm will provide fresh produce to local restaurants and grocery stores, including Whole Foods Market, and will host educational programming about sustainable agriculture. Gotham Greens expects to create approximately 60 full-time jobs in …

December 9, 2019Development, Industrial, Northeast, Rhode Island

Fortuitous Partners Plans $400M Sports-Anchored Project in Rhode Island

PAWTUCKET, R.I. — Fortuitous Partners has unveiled plans for Tidewater Landing, a $400 million mixed-use development along Pawtucket’s waterfront. The project will include office, residential and hotel space, as well as a 7,500-seat soccer stadium and sports complex for a future United Soccer League (USL) team. Fortuitous Partners will fund the project, while public investment from both the city and state will primarily focus on infrastructure and other non-stadium components of the …

December 3, 2019Development, Mixed-Use, Northeast, Rhode Island, Top Stories