CBRE Arranges Sale of RI Townhome Community

The Grossman Companies has sold Mill Creek Townhomes in North Kingstown RI to Landings Real Estate Group. Representatives of CBRE, led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler represented the seller and also procured the buyer for the transaction. Built in two phases in 1968 and 2006, the property features 140 units across of 31 residential buildings in addition to a clubhouse. The community offers a mix of spacious two-, three-, and four-bedroom direct entry homes with an average size of 1,126 square feet. Spread out over 47 acres (3.0 units per acre), the community offers a quiet, low-density neighborhood close to shopping, beaches, and major roadways. CBRE’s Simon Butler said, “We are pleased to have represented The Grossman Companies in the sale of Mill Creek Townhomes after many decades of stewardship. The property offers the Landings Real Estate Group the ability to earn strong long term returns through the execution of their value-add program and substantial capital investment.”

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