{"id":1004072240,"date":"2013-05-06T06:58:29","date_gmt":"2013-05-06T14:58:29","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=123480"},"modified":"2025-02-19T02:56:28","modified_gmt":"2025-02-19T10:56:28","slug":"gaia-pays-55m-for-2-east-providence-m-f-complexes","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gaia-pays-55m-for-2-east-providence-m-f-complexes\/","title":{"rendered":"Gaia Pays $55M for 2 East Providence M-F Complexes"},"content":{"rendered":"<p><!--[if gte mso 9]&gt;--><\/p>\n<p><!--[if gte mso 9]&gt;--><\/p>\n<p class=\"MsoNormal\"><em><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Gaia-Winchester.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-123482\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Gaia-Winchester.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Gaia Real Estate has purchased two East Providence multi-family communities and 20 acres of undeveloped land for $55 million or $115,000 per unit, the <em><a href=\"https:\/\/pbn.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Providence Business News<\/a> <\/em>reports. CBRE\/New England, a joint venture of CBRE Group Inc. and Whittier Partners Group, represented the buyer in the transaction and procured financing. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Located in the Riverside neighborhood, the two properties, Winchester Park and Winchester Wood, offer 478 units distributed among 79 two- and three-story townhouse buildings. Winchester Park was built between 1971 and 1974 and renovated in 2000. It encompasses 416 units and 63 buildings. Winchester Wood was completed in 1985 and comprises 62 units and 16 two-story buildings.<br \/>\n<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u201cWe believe in the Providence apartment submarket and intend to continue to embark on a substantial value-added program for properties,\u201d said Gaia managing partners Danny Fishman and Amir Yerushalmi in a statement. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Amenities include a renovated clubhouse, a fitness center, an outdoor swimming pool with a sun deck, tennis courts, a private landscaped courtyard, 694 parking spaces, on-site management and 24-hour emergency maintenance. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Gaia, which will also manage the properties, plans to upgrade common areas and renovate unit interiors. The New York-based company owns $1.15 billion in\u00a0 assets nationwide, including 13,000 multi-family units.<\/span><\/p>\n<p class=\"MsoNormal\"><em><span lang=\"EN-US\">Photo: https:\/\/www.gaiare.com\/Gaia-Winchester.html<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gaia Real Estate has purchased the Winchester Park and Winchester Wood multifamily communities in East Providence for $55 million or $115,000 per unit. The sale also included 20 acres of undeveloped land, the Providence Business News reports. CB Richard Ellis New England Partners represented the buyer in the transaction and also procured financing.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004072240","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gaia Pays $55M for 2 East Providence M-F Complexes - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gaia-pays-55m-for-2-east-providence-m-f-complexes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gaia Pays $55M for 2 East Providence M-F Complexes\" \/>\n<meta property=\"og:description\" content=\"Gaia Real Estate has purchased the Winchester Park and Winchester Wood multifamily communities in East Providence for $55 million or $115,000 per unit. The sale also included 20 acres of undeveloped land, the Providence Business News reports. CB Richard Ellis New England Partners represented the buyer in the transaction and also procured financing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/gaia-pays-55m-for-2-east-providence-m-f-complexes\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-06T14:58:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T10:56:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Gaia-Winchester.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gaia-pays-55m-for-2-east-providence-m-f-complexes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gaia-pays-55m-for-2-east-providence-m-f-complexes\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Gaia Pays $55M for 2 East Providence M-F Complexes\",\"datePublished\":\"2013-05-06T14:58:29+00:00\",\"dateModified\":\"2025-02-19T10:56:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gaia-pays-55m-for-2-east-providence-m-f-complexes\\\/\"},\"wordCount\":205,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gaia-pays-55m-for-2-east-providence-m-f-complexes\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/05\\\/Gaia-Winchester.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gaia-pays-55m-for-2-east-providence-m-f-complexes\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gaia-pays-55m-for-2-east-providence-m-f-complexes\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gaia-pays-55m-for-2-east-providence-m-f-complexes\\\/\",\"name\":\"Gaia Pays $55M for 2 East Providence M-F Complexes - 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