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Newport, RI 02840



Landings Real Estate Group Closes on 15.5M Multi-Family Project in Middletown, RI
February 1, 2007

Tales of crashing housing markets bear no vigilance for Landings Real Estate Group who closed July 31st on two multi-family communities in New London

and Groton, Connecticut. The Newport based real estate group and owner/manager of Landings Apartment Community in Middletown,RI,  purchased the former 171 unit Squire One Apartment Community in New London for $11.3M and the former 156 unit Willow Pond Apartment Community in Groton for $10.3M.

The addition of these 327 market rent apartment homes doubled the real estate group's and changes at the newly named Faire Harbour Landings in New London,CT  and Long Meadow Landings in Groton,CT.

Proposed upgrades for both properties include new building facades, functional improvements to the parking areas, new street lighting and signage and new landscaping along the walkways and around the buildings. The modernization plans include enhancing the private courtyards throughout the community by adding community amenities such as upgraded play areas for families, upgraded laundry facilities and dog parks. The interiors of the residences will receive newly remolded hallways, interior flooring, doors, lighting, kitchen cabinets and countertops, appliances, bathrooms and new trim detail.  

 "We are excited to grow our business from our hometown roots," said Christopher Bicho, President of Landings Real Estate Group. "Like our flagship asset, Landings, we look forward to enhancing the vibrancy of both communities with the class and craftsmanship our organization prides itself on."

The Landings Real Estate Group is an investment, development, construction, and management firm. Landings Real Estate Group will continue to pursue opportunities in the residential, retail, and office sector in an effort to expand their portfolio throughout the Northeast. The Firm was founded by Mr. Bicho who previously served as Chief Financial Officer of one of nation's top military privatization real estate companies.

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