Landings Expands Into South County, Rhode Island
May 20, 2011
On Friday, May 20th the Newport, RI based real estate firm expanded into the South County, Rhode Island marketplace. Landings purchased the former Kingston Gardens community located at 38 Rolens Drive Kingston, RI for $9.38 million.
The newly named Tower Hill Landings Apartment Community features 132 market rent apartment homes centrally located near local beaches, retail and entertainment venues and just under two miles from the University of Rhode Island. The apartment community features one and two bedroom apartments. The residences range in price from $795-$1150 per month and most apartments include heat, hot water, sewer and trash removal.
Upon transition to Tower Hill Landings, the Landings team will continue to deliver exceptional customer service and the meticulous craftsmanship that the organization is known for. Plans for the community include the construction of a new leasing center, kitchen renovations, common area improvements and new landscaping to enhance the overall curb appeal of the property.
"Located in the heart of our portfolio, this new acquisition allows us to integrate the operations of Tower Hill Landings with ease and the careful attention to detail we pride our company on." said Christopher Bicho, President of Landings Real Estate Group. "We are excited to bring the Landings brand and product to our neighbors in South County, Rhode Island."
The Firm was founded by Mr. Bicho in January of 2007 and currently has in excess of $100 million dollars under ownership and management. Under Mr. Bicho's leadership, Landings Real Estate Group has continued a consistent pattern of growth executing a core multi-family strategy 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. The addition of Tower Hill Landings to the real estate group's portfolio increases its size for the seventh time in its short, four year involvement in multi-family industry. Landings now operates over 1,000 apartments and condominiums throughout Rhode Island, Connecticut and Massachusetts. Landings Real Estate Group will continue to pursue multi-family opportunities in an effort to expand their portfolio throughout the Northeast.