Boston Realty Advisors completes $15.795 million sale of 194-unit portfolio

Boston Realty Advisors (BRA) has sold a 194-unit portfolio for $15.795 million ($81,418/unit) on behalf of its client The Mount Vernon Company. The Rhode Island portfolio is made up of studio, one-bedroom and two-bedroom units. The portfolio includes The Landings and East Shore Apartments. The immediate area also boasts numerous amenities including Super Stop and Shop, The Home Depot, Bed Bath & Beyond, and BJ's Wholesale Club as well as local area highways I-195, I-95, I-295, and Rte. 24. Christopher Sower, managing director and partner of BRA said, "Both seller and buyer were a pleasure to work with, which resulted in a successful sale." Jason Weissman, principal and founder of BRA said, "The portfolio provides a value add opportunity with significant upside."