West Greenwich, RI CBRE/New England’s capital markets team completed the sale of Grandville at Greenwich, a 300-unit garden-style apartment community.
CBRE/NE exclusively represented the seller, Grandeville at Greenwich L.P. an affiliate of Lecesse Development and procured the buyer, The Wolff Company, a Scottsdale-based private equity firm.
CBRE/NE’s multi-housing experts Simon Butler, vice chairman and partner and Biria St. John, vice chairman and partner, exclusively represented the seller. “We are pleased to have facilitated the sale of Grandeville at Greenwich on behalf of our client who developed the community in 2006. Grandeville at Greenwich offers The Wolff Company the opportunity to potentially add value through selective upgrades on this truly unique asset, which is located within the larger Center of New England mixed-use development,” said Butler.
Built between 2006 and 2007 by the LeCesse Development Corp., the community consists of 300 apartment homes in thirteen two and three-story buildings and features an expansive clubhouse. The apartment homes are a mix of one, two and three-bedroom apartments with an average size of 1,321 s/f. Community amenities include a great room, media room, business center and an expansive gym with a kid’s room. There is an outdoor pool with sundeck, as well as a tot lot, carports, garages and gas grills.
The community is located within the larger mixed-use Center of New England.