Boston & New England CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Boston & New England  + New England  + Apartments  | 
Liberty Commons in South Portland, ME

CBRE Touts South Portland Multifam Sale as ME’s Second Largest CRE Transaction

CBRE has arranged the sale of Redbank Village and Liberty Commons, a 620-unit townhouse and garden-style apartment community in South Portland, ME, for an undisclosed amount.

CBRE represented the seller, Portland Portfolio I, LLC, an entity controlled by Jones Street Investment Partners, and procured the buyer, JRK Property Holdings. 

“To our knowledge, this sale represents the second largest commercial property sale in the state of Maine ever, second only to the Maine Mall,” said CBRE’s Biria St. John. The recent run up in values is indicative of the rise in rents that we have seen throughout secondary markets in New England as residents have relocated to places such as Portland and NH to enjoy a better lifestyle while still being able to maintain their existing employment and working remotely.” 

Redbank Village Apartments offers 500 direct-entry homes; Liberty Commons is comprised of 120 garden apartment homes.

Connect

Inside The Story

CBRE's St. John

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition