Greystone Arranges Sale of Two-Property Portfolio in Rhode Island

CUMBERLAND and SMITHFIELD, R.I. — Greystone Real Estate Advisors has closed the sale of two seniors housing properties in Rhode Island: Chapel Hill in Cumberland and Smithfield Woods in Smithfield.

Mike Garbers and Cody Tremper of Greystone Real Estate Advisors represented the seller in the transaction, a publicly-traded REIT. The buyer was a partnership between GMF Capital, a New York-based private equity firm, and Meridian Senior Living, which will operate the properties. The price was not disclosed.

Both located in the Providence metro, the communities were built between 1989 and 1999. The properties offer 272 units of assisted living, memory care and skilled nursing.