The Wolff Company, a Scottsdale-based private equity firm, has purchased the Grandville at Greenwich apartment community in West Greenwich, Rhode Island for $59.75 Million. Built between 2006 and 2007 by the LeCesse Development Corporation, the community consists of 300 apartment homes in thirteen two and three-story buildings. The community is located within the larger mixed use Center of New England which includes retailers such as BJ’s, Wal-Mart, Home Depot and CVS. CBRE/New England’s Capital Markets represented the seller Grandeville at Greenwich Limited Partnership an affiliate of Lecesse Development.
“We are pleased to have facilitated the sale of Grandeville at Greenwich on behalf of our client who developed the community in 2006,” said Simon Butler (CBRE). “Grandeville at Greenwich offers The Wolff Company the opportunity to potentially add value through selective upgrades on this truly unique asset, which is located within the larger Center of New England mixed use development.”
