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Boston & New England  + New England  + Apartments  |  February 23, 2022
ushman & Wakefield has arranged the sale of Rising Sun Mills, a 135-unit multifamily community in Providence, RI, for $26.9 million
Lisa McDuffie
By: Lisa McDuffie

FPA Multifamily Acquires $27M Apartment Community in Providence

Cushman & Wakefield has arranged the sale of Rising Sun Mills, a 135-unit multifamily community in Providence, RI.  The final sale price was $26.9 million.

Cushman & Wakefield’s Chris Sower, Bruce Lusa, Jonathan Bryant, John Flaherty, Kevin Jones, Julie Regan and Mary VanNatta represented the seller, Armory Revival Company, in the transaction.  The asset was acquired by FPA Multifamily, LLC.

Rising Sun Mills is a brick-and-beam apartment community located in the heart of Providence. The four-story brick mill building consists of 135 loft-style units and 30,000 square feet of commercial space.  The property consists of 31 studio units, 69 one-bedroom units and 35 two-bedroom units.

The asset is situated on Providence’s west side at the intersections of the transforming neighborhoods of Federal Hill, Broadway and the Armory District. The property was converted from its former industrial use in 2005 and is surrounded by an array of bars and restaurants, retail options and green space.

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Cushman & Wakefield

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 she makes the transition from an utterly failed racehorse to a lovely show hunter.
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