Fairstead Scoops 204-Unit Affordable Apartment Community in Rhode Island

Fairstead, a real estate firm committed to the preservation of affordable housing, has acquired Festival Field Apartments, a 204-unit Section 8 family apartment property located in Newport, Rhode Island for $33.25 million.

The acquisition was financed through the issuance of low-income housing tax credits and tax-exempt bonds issued through RIHousing.

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