NORTH PROVIDENCE – An apartment complex at 250 Smithfield Road was purchased for $3.1 million, buyer Edgewood Group announced on Wednesday.
The 42-apartment complex is slated for renovation, including for interior and exterior upgrades. It will be renamed from Smithfield Manor to The Belmore, according to the company.
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“This new addition to our portfolio complements our strategy of acquiring aging communities in great locations that need some updating,” said Alfred D’Andrea, founder and CEO of Edgewood. “All of our buildings are unique, in that each one has a different theme. We look forward to rebranding the property to The Belmore and being able to provide high-quality housing to the North Providence community.”
The seller was Rissport I LLC, according to property records. The sale was recorded on Nov. 27.
Edgewood now owns and manages seven properties in Rhode Island. The company purchased the property at 250 Smithfield Road through the incorporated entity 250 Smithfield LLC.
Planned renovations include wood plank flooring, granite countertops, new cabinetry and stainless steel appliances, as well as new signage and landscaping.
