News:
Owners Developers & Managers
Posted: July 8, 2022
Veloso of the Bessette, Veloso, & Fava Group at Residential Properties Ltd. completes two sales totaling $6.645 million
Lincoln & Providence, RI Residential Properties Ltd. has completed two sales totalling $6.645 million.
The first transaction was the sale of 9-11 School St. in Lincoln for $1.645 million. RPL sales associate Scott Veloso of the Bessette, Veloso, & Fava Group represented both sides of this transaction.
According to State-Wide MLS data, this is the highest commercial sale in Lincoln since 2007.
This 13-unit building with a mix of 1 and 2-bedroom apartments is in the Albion area. Residents have proximity to the Blackstone River, the Kirkbrae Country Club, Lincoln Mall, and easy access to I-295.
The second transaction was the sale of 101 Hillside Ave. in Providence for $5 million. Veloso represented both sides of this transaction. He also represented the developers with their original acquisition of property in an off-market deal in 2016. The Bilotti Group, Inc is acquiring the property through an affiliated entity. The Bilotti Group, Inc is based in Cranston, RI and owns and operates 600 apartments throughout Northern Rhode Island and Southeastern Massachusetts.
This 22-unit apartment building located in the Summit neighborhood is a former assisted living facility completely renovated in 2017 and converted to apartments by local developers Jordan Durham and Peter Gill Case of Hillside Realty LLC. The property is situated in walking distance to Lippitt Park and Blackstone Blvd. and has been 100-percent occupied since redevelopment.
MORE FROM Owners Developers & Managers
Routine Properties acquires Bristol Business Park at 383 Middle St. - 406,665 s/f industrial campus
Bristol, CT Routine Properties, a boutique real estate development and investment firm specializing in industrial assets throughout the Northeast, has acquired the Bristol Business Park, a 406,665 s/f industrial campus located at 383 Middle St.
.png)
Quick Hits
Columns and Thought Leadership
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
 (1).png)