PEREGRINE GROUP LLC ANNOUNCES PURCHASE OF NEWPORT YACHTING CENTER & MORE FROM NEWPORT REALTY, INC.
Rumford, Rhode Island: Peregrine Group LLC is pleased to announce that it will be purchasing the Newport Yachting Center, including the Mooring Restaurant, the Smokehouse Restaurant, the Sunset Terrace, and the marina and parking operations from Newport Realty, Inc. The sale is anticipated to close in November 2014. Newport Harbor Corporation will continue to operate the restaurants under the Newport Restaurant Group umbrella, Sunset Terrace, and boat shows under long-term lease agreements. Peregrine very much looks forward to continuing to operate and enhance the property, and to being an active contributor to the success of the City of Newport.
Peregrine Group LLC is a real estate investment, advisory and property management firm located in Rumford, RI. Peregrine has successfully completed projects in Massachusetts, Hawaii, New York, California, and Mexico City, as well as several projects in Rhode Island, including the Ocean House Hotel in Watch Hill, American Locomotive in Providence, and Rumford Center in East Providence.