MRGP Capital

A Vertically Integrated Real Estate Investment Firm

We specialize in acquiring and repositioning multifamily and commercial properties in the Greater Providence area. Our strategy centers around acquiring assets at a discount, maximizing value through renovation, and managing assets diligently.

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About MRGP

Our mission is to deliver superior risk-adjusted returns through durable cash flow and forced appreciation — while strengthening the communities in which we invest. We acquire undermanaged buildings, reposition them through targeted capital improvements, and hold for the long term. Our in-house control of acquisitions, construction, and property management enables efficient operations at reduced costs.

Market Thesis

Greater Providence is a 1.7 million-person metro anchored by universities such as Brown, RISD, Providence College, and Johnson & Wales as well as major health care systems such as Brown University Health, and Care New England. Its diversified economy spans education, healthcare, government, professional services, manufacturing, logistics, and hospitality, supporting durable rental demand across a densely populated market with direct access to Boston.

Limited new construction and an aging housing stock have kept supply tight, helping Providence earn Zillow's ranking as the #1 hottest U.S. rental market for summer 2026.

Case Studies

Selected projects in Greater Providence.

Case Study · Providence County, RI

30-Unit Apartment Portfolio.

Repositioned three-story apartment building exterior

Repositioning of thirty heavily distressed apartments across four sites in Providence County. MRGP brought in natural gas service to the buildings, converting from oil to individual gas metering, separated all heat and hot water systems, installed new high-efficiency boiler systems, and added in-unit laundry.

Annual portfolio rent roll nearly tripled following the repositioning.

Asset Type
Multifamily
Units
30 across 4 sites
Location
Providence County, RI
Rent Roll Growth
+194%

Case Study · Providence, RI

Admiral Apartments.

Repositioning of seventeen outdated apartments into luxury units. MRGP upgraded natural gas service to 17-unit metering, installed seventeen new high-efficiency boilers, replaced casement windows throughout, and added in-unit laundry.

Annual rent roll increased by more than 70% following the renovation.

Asset Type
Multifamily
Units
17
Location
Smith Hill, Providence
Rent Roll Growth
+72%
Renovated Admiral Apartments kitchen with modern cabinetry and stainless appliances

Case Study · Lincoln, RI

Historic Mill Flex Spaces.

Renovated mill interior with original brick walls and arched windows

Adaptive reuse of an abandoned historic mill into twenty boutique commercial spaces. MRGP is bringing new natural gas service to the building, separately metering each unit for gas and electric, installing replacement windows throughout previously boarded openings, and building out interiors to tenant specifications, including HVAC.

Tenants include a Pilates studio, a youth sports facility, a cancer non-profit, a photography studio, and several trade businesses.

Asset Type
Commercial / Flex
Units Delivered
20
Location
Lincoln, RI
Status
Ongoing

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