Landings Expands Luxury Vacation Brand With "The East Island Reserve" in Middletown,RI
November 13, 2015
LANDINGS REAL ESTATE GROUP TO EXPAND ITS LUXURY VACATION BRAND WITH ‘THE EAST ISLAND RESERVE’
On Friday, August 28th, Landings Real Estate Group embarked on an expansion of its luxury vacation brand by purchasing the former Sandpiper Cottages located at 985 East Main Road in Middletown, RI for $1 million. The group plans to invest another $6.25 million into the 2.65 acre site and introduce a new luxury vacation destination named The East Island Reserve in late summer/early fall of 2016.
The East Island Reserve will feature 24 luxurious cabins along with a small hotel component of 10 studio style units and an outdoor lagoon style pool. The cabins will be two-stories and will include a kitchen, master bedroom, living area, bathroom and porch. All units will have gas fireplaces and central air conditioning. Located within minutes of area beaches, nature trails, entertainment venues, shopping and historic Newport, The East Island Reserve will be a comfortable year round destination with nightly rates around $375/night.
“We look forward to The East Island Reserve not only becoming a prominent vacation destination in Newport County, but we also look forward to participating in and contributing to the success of the local travel and tourism industry ,” said Christopher Bicho, President of Landings Real Estate Group. “The development of The East Island Reserve represents our support for the growth of tourism in Rhode Island and our passion to provide visitors a tranquil and peaceful place to stay while visiting our state.”
Landings Real Estate Group was founded by Mr. Bicho in 2006 and has expanded the company’s Northeast presence into new markets, while cultivating an entrepreneurial culture among the Landings’ team. Under Mr. Bicho’s leadership, Landings Real Estate Group has continued a consistent pattern of growth, executing a core vacation and multi-family strategy by acquiring undervalued assets and other real estate opportunities that require operational as well as financial restructuring. Landings Real Estate Group is an investment, development, construction, and management firm. Landings now operates over 1,500 vacation, apartment and condominium units throughout Rhode Island, Connecticut, Massachusetts, New York, and Florida. Landings Real Estate Group will continue to pursue opportunities in an effort to expand their portfolio throughout the East Coast.