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CBRE Arranges Sale of Providence Apartments to Audubon Capital
A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler closed the sale of Chestnut Commons & 95 Lofts, a 151-unit apartment portfolio located in downtown Providence, RI. The sale price wasn’t disclosed.
CBRE represented the seller, two partnerships led by Waldorf Capital Management, a private real estate investment manager, real estate developer and project consultant. The team also procured the buyer, Audubon Capital Partners, a private equity real estate firm.
Butler said, “We are pleased to have represented Waldorf Capital Management in the sale of Chestnut Commons and 95 Lofts, which they developed using creative structures including Rebuild RI tax credits at Chestnut Commons, federal and state historic tax credits at 95 Lofts, and Tax Stabilization Agreements for both properties. Audubon is poised to benefit from the ongoing transformation of the I-195 District with new medical and life science development set to open in the near future.”
- ◦Sale/Acquisition

