DSF Shells Out More Than $100M for Historic Mill Buildings in Downtown Providence

CBRE has arranged the $105-million sale of The Promenade at The Foundry, a 433-unit luxury apartment community located at 255 Promenade Street in Providence, RI.

CBRE Capital Markets’ multi-housing experts Simon Butler, Biria St. John and John McLaughlin, along with Alden Anderson from CBRE’s Providence office, exclusively represented the seller, Promenade Building Associates, LLC & Sharpe Building Associates, LLC, entities controlled by Providence-based Foundry Associates. They also procured the buyer, The DSF Group.

Part of a 1-million-square-foot, mixed-use mill campus with 500,000 square feet of office/medical space, The Promenade at The Foundry is comprised of two adjacent brick-and-beam residential buildings. The Promenade Building is home to 237 apartments rehabilitated in 2005, while the Sharpe building is home to 196 apartments rehabilitated in 2015. The community offers residents easy access to the MBTA and Amtrak train at Providence station, as well as Interstate 95.