EAST PROVIDENCE – GAIA Real Estate recently secured an $83.8 million refinancing arrangement for Winchester Park & Woods, a 478-unit multifamily apartment community in the Riverside neighborhood of East Providence, the company announced.
The loan, underwritten by Greystone and serviced through Freddie Mac, replaces a Fannie Mae loan that originated in 2018, according to a company announcement issued on Dec. 31.
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The apartment complex, built in 1978, sits on approximately 66 acres, according to public records. It features one-, two- and three-bedroom apartments, the real estate firm said.
GAIA first acquired Winchester Park & Woods in 2013. The real estate company performed a series of renovations in recent years, including amenity upgrades completed in 2024.
Among the amenities are a swimming pool, sports courts, fitness facilities, a playground and walking trails.
The residential complex is located a short distance from downtown Providence, the East Bay Bike Path and the Silver Spring Golf Course, the real estate company said.
The refinancing marks GAIA’s second Freddie Mac transaction with Greystone, following a 2023 refinancing of a multifamily portfolio in Stamford, Conn.
GAIA Real Estate, founded in 2009, is a nationwide private equity firm focused on residential real estate and reports, owning and/or managing approximately 20,000 units across the country, according to the company’s website.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
