Blackstone Valley Portfolio
The Blackstone Valley Portfolio includes 71 apartment units on four separate parcels all within one block of Memorial Hospital. Select units include balconies, central air conditioning, and tile flooring. For more information, visit the property website at www.liveatbv.com.
This property was acquired in December 2012 for $3,475,000 ($49,000 per unit) with financing provided by Webster Bank located in Providence, RI. Paul Natalizio of Cornerstone Realty Consultants assisted with the financing and Karl Sherry of Hayes and Sherry and Chris Griffin of Cushman and Wakefield of Massachusetts represented the seller. The Bilotti Group, Inc. in partnership with Till Rock Capital Partners raised $1,250,000 from fourteen high net worth investors to complete this transaction.
The Taunton Portfolio includes 30 units on two separate parcels which were acquired between May and June of 2012 for $1,975,000 ($66,000 per unit) with financing provided by Greystone Servicing Corporation and Webster Bank. Paul Natalizio of Cornerstone Realty Consultants assisted in procuring the financing and Dan McGee of NAI Hunneman represented the seller. The Bilotti Group, Inc. raised $500,000 from eight high net worth investors to complete this transaction.
The Oaklawn Property consists of one 17 unit building located on Oaklawn Avenue in Cranston, RI. The property was acquired for $910,000 with financing provided by South Shore Savings Bank. Paul Natalizio of Cornerstone Realty Consultants assisted in procuring the financing, and Joseph Cawley of Partners Investment Properties represented the seller. The Bilotti Group, Inc. acquired this property in partnership with one high net worth investor.
Conveniently located just off Park Avenue in Cranston, RI, this property offers on-site management, swimming pool, plenty of free parking and convenient access to Rte. 10, Route 95 and Route 295 via Route 37. The property is minutes from the Garden City Shopping Center. One and two bedroom apartment homes include balconies (select units) air conditioning, tile flooring (select units). Visit www.pocassetvillage.com for more information about this property.
This property was acquired for $9,550,000 ($80,000 per unit) in December 2010 with financing provided by Commerce Bank located in Worcester, MA. Paul Natalizio of Cornerstone Realty Consultants assisted with the financing and Simon Butler of Cushman and Wakefield of Massachusetts represented the seller. Including 120 apartment units, this property provided The Bilotti Group an opportunity to gain critical mass in its expansion south of Providence. The Bilotti Group, Inc. through an affiliated entity acquired this property in partnership with a high net worth family.
East Providence and Pawtucket Portfolio
The East Providence and Pawtucket Portfolio encompass 120 apartment units in five separate locations throughout East Providence and Pawtucket, RI acquired between January 2003 and December 2012 for a total of $7,633,000 ($64,000 average per unit). Financing was provided by Webster Bank, TD Bank, Greystone Servicing Corporation, Bank of America and South Shore Savings Bank. These properties were acquired by the principals of the The Bilotti Group, Inc. through affiliated entities as portfolio assets.
Hillside Terrace is a 94 unit apartment complex located adjacent to RI College in North Providence RI. Select units include balconies, central air conditioning, and tile flooring. The complex includes amenities such as on-site management, fitness center and a swimming pool. This property was acquired in November 2014 for $6,400,000 ($68,000 per unit). Terry Scott, of Marcus and Millichap represented the seller. Financing was provided by Greystone Servicing Corporation and arranged by Cornerstone Realty Capital. The Bilotti Group, Inc. in partnership with Till Rock Capital Partners raised $2,000,000 in capital from high net worth investors.
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OUR MISSION | The Bilotti Group, Inc. was founded on the principles of providing the highest quality environment for our tenants at competitive prices. The founders of the Company have been in the business of managing real estate since 1984.