realestate

CBRE Secures $52.5M Sale of 240-Unit Brentwood Homes to FPA Multifamily

CBRE sells 240‑unit Residences at Brentwood in North Providence, RI, for $52.5M, a major multifamily deal.

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BRE announced the $52.5 million sale of the 240‑unit Residences at Brentwood in North Providence, Rhode Island. The transaction, a notable deal in northern Rhode Island’s multifamily market, was handled by CBRE’s Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler, who represented seller TMI The Residences at North Brentwood—an affiliate of Taymil Partners—and secured buyer FPA Multifamily, LLC, a national investment firm. Built in 1987, the complex offers one‑ and two‑bedroom units averaging 692 sq ft, plus indoor/outdoor pools, a fitness center, and a clubhouse. Its proximity to downtown Providence and I‑295 makes it attractive for value‑add investors, reflecting ongoing interest in well‑located suburban assets with reposition potential.

CBRE sells 240‑unit Brentwood Homes to FPA Multifamily for $52.5M.