The Boston-based GID has retained CB Richard Ellis to market Windsor at Brentwood. The 240-unit complex should be well-received by the market, predicts CBRE broker Paul Donahue. "It's an attractive property," Donahue says, relaying there are value-added opportunities connected to the asset that could help yield a capitalization rate in the 6% range for the buyer.

Constructed in 1987, Windsor at Brentwood features a dozen three-story buildings at 630 Smithfield Rd., situated on a 12.7-acre campus that Donahue terms as "meticulous" in its landscaping. Windsor at Brentwood is 97% leased, a rate Donahue says benefits from a solid location just four miles from Downtown Providence and a market that is seeing vacancies on the wane.

The arrival of Windsor at Brentwood to the sales block gives investors something to pursue after many multifamily owners stayed on the sidelines in late 2007 and at the outset of 2008. There remains a disconnect of expectations on both sides of the aisle, relays Donahue, who suggests one reason is that apartment owners are not being forced to divest the way many were in the early 1990s when there was a glut of supply and market fundamentals were weak. Neither is the case today, Donahue says, reporting both occupancy and rental rates are on the rise in southern New England's stronger markets. "Operationally, the real estate is doing very well," he says.