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EAST PROVIDENCE, RI-A pair of apartment assets here has been sold to the Mount Vernon Co., a Boston-based real estate investment and management firm active in both multifamily and commercial properties. Totaling 197 units, Eastgate On the Trail and Eastshore sold for a total consideration of $14.8 million, or about $75,000 per apartment.

“Given their outstanding locations and value-added potential, Eastgate and Eastshore will enjoy success long into the future,” says Cushman & Wakefield editorial director Simon Butler, a member of the C&W Capital Markets Group that brokered the sale on behalf of Deeble Holdings and East Shore LP. Both apartment communities offer quick access to downtown Providence, generating demand from the workforce in that now-bustling business district. The Rhode Island apartment market also continues to strengthen, further enhancing the prospects going forward, says Butler, who negotiated the sale with C&W colleagues Robert Griffin Jr. and Biria St. John.