Cranston apartment complex sold for $31.1M

THE TERRACES OF WESTERN CRANSTON sold for $31.1 million. / COURTESY INSTITUTIONAL PROPERTY ADVISORS
THE TERRACES OF WESTERN CRANSTON sold for $31.1 million. / COURTESY INSTITUTIONAL PROPERTY ADVISORS
CRANSTON – A 216-unit multifamily property known as the Terraces of Western Cranston was sold for $31.1 million, Institutional Property Advisors announced Friday. The seller, Cranston Addison LLC, sold the apartment complex located at 100 Elena St. to Sentry Management Holding LLC. The sale price of the building equates to nearly $144,000 per unit. “In addition…

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