MRGP Capital

MRGP Capital is a vertically integrated real estate investment and development company. Our primary focus is to invest in existing multifamily and commercial properties in markets where new development is difficult. Our current portfolio is concentrated in Providence, Rhode Island and the surrounding area.

Our Approach

The investment and the operating plan are simple: acquire at a strong basis, execute improvements that serve tenant demand, manage diligently. We look to acquire assets directly from sellers offering a smooth sale and creating a win for both sides. We then execute thoughtfully designed renovations with the improving tenant experience as the primary objective. We directly manage our properties, keeping investment strategy and day-to-day operations closely aligned. This hands-on approach gives us greater control over costs, resident experience, and the execution of each property’s business plan.

About MRGP

Will Rawlings

Principal

Will began his real estate career while studying Finance & Real Estate at Boston University, acquiring his first multifamily property as a student. After graduating, he worked for a Boston-based investment group repositioning distressed multifamily assets in Providence County where he was responsible for bringing management in-house and eventually overseeing acquisitions, construction, operations and asset management. To date, Will has directly led the turnaround of over 250 units across 36 properties valued at ~$40M.

Albert Malik

Principal

Albert began his real estate career in project management and accounting at The Catskill Project, a sustainable single-family development in New York. He later worked as a commercial appraiser at Bowery Valuation, valuing over $100 million of assets across multiple property types, before joining Arch Companies in a private-equity role overseeing national multifamily and office portfolios. He then moved into capital markets consultant at Curated Real Estate Capital, where he has placed $70 million in construction and bridge financing for developers nationwide.

Market Thesis

Greater Providence is a metropolitan area of approximately 1.7 million residents, anchored by institutions including Brown University, RISD, Providence College, and Johnson & Wales, alongside major healthcare systems Brown University Health and Care New England. The area also benefits from direct Amtrak and MBTA rail connections to Boston. New housing development has not kept pace with demand, contributing to a competitive rental market. Zillow ranked Providence the #1 hottest U.S. rental market for summer 2026, underscoring the region’s supply-demand imbalance. We believe these fundamentals, combined with an aging housing stock, create a compelling opportunity to reposition existing properties through targeted renovations and hands-on management. Our strategy focuses on improving the quality and performance of underutilized assets to meet demand for well-maintained housing and build durable cash flow.

Portfolio

Selected apartment and commercial projects in Greater Providence.

01 / 05

Pawtucket, RI

Lorraine Mills

110 apartments + commercial space

A 325,000 SF historic mill at 560 Mineral Spring Avenue, with loft-style apartments and spaces for local businesses. The plan includes apartment renovations and building-system improvements.

Repositioned apartment building in the 30-unit portfolio

Providence County, RI

30-Unit Apartment Portfolio

30 apartments across 4 sites

Repositioning of distressed apartments through building-system upgrades, individual gas metering, high-efficiency boilers and in-unit laundry.

Smith Hill, Providence, RI

Admiral Apartments

17 apartments

Apartment renovations with new windows, individual gas metering, high-efficiency boilers and in-unit laundry.

Renovated interior of the Lincoln historic mill

Lincoln, RI

Historic Mill Flex Spaces

20 commercial spaces

Adaptive reuse of a historic mill into boutique commercial spaces, with new utilities, replacement windows and interiors built to tenant needs.

Woonsocket, RI

Sayles Street

11 Units

Two adjacent multifamily buildings at 126-140 Sayles Street, with electrical and heating upgrades and conversion of residential space into a 3 bedroom apartment.

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