HISTORY

We are extremely proud to share our remarkable history and to highlight the core values that govern our organization every day.

1950

1950’s, A legacy is born

Founded in 1958 by Armand and Eve, Procaccianti Companies is a true American success story.

1960

1960’s, Foundation for growth

The company moved into its first offices at 769 Cranston Street.
In June of 1964, Mr. & Mrs. Procaccianti bought the former Columbus Hotel in Warren, RI. Closed for nearly a year and a half, the 18-room hotel was purchased from Industrial National Bank for $33,000.

1970

1970’s, Commercial & residential expansion

Throughout the 70’s, the company continued to grow by acquiring multiple commercial and residential properties. During this time, Armand and Eve’s son James begin working at his parents' company while attending school.
With a knack for the business and true entrepreneurial spirit, Jim expanded the business to a full service real estate brokerage firm.

1980

1980’s, Strategy defined

By the mid-80’s, the firm had grown to be one of the largest owners of real estate throughout New England with more than 12 million square feet under management.
Jim orchestrated the purchase of Sterling Hospitality and its portfolio of small hotels and inns.
The company also acquired its first hotel flying a major national brand – the Comfort Inn at T.F. Green Airport in Warwick, RI. Jim capitalized on the investment by doubling the size of the hotel to 200 rooms. Later that year the hotel earned national recognition as the ‘Best Comfort Inn in America’. The company still owns this property today.
The company acquired several more hotels during this period.

1990

1990’s, Multi-family & Hotels

Economic conditions created a favorable environment for well-established, stable firms like TPG. During this period, multi-family developments and apartment complexes were a key focus for the company. TPG acquired multiple distressed condominium and multi-family developments throughout the region. TPG Construction, formerly Brownstone Construction, completed the projects and TPG Brokerage brought them to market.
The company continued to expand its portfolio of branded hotels and by the end of the decade, TPG was a nationally ranked owner operator approved by multiple major brands including Marriott, Hilton and IHG.

2000

2000’s, Vision & growth

Smiley faceThe millennium brought with it a significant milestone for TPG. In 2000, Jim Procaccianti defined the company’s aggressive growth strategy that would propel the company to its current position as one of the leading hotel owners in the U.S.
During this period, the company expanded its hotel portfolio from under 20 hotels to nearly more than 60 hotels coast to coast flying all the major flags.
The company became a fiduciary for one of the nation’s largest employee pension funds.
By the end of this decade, under Jim’s leadership, the company had amassed a diverse portfolio of more than 50 million square feet of real estate across all sectors with value approaching $5 Billion.

2010

2010 to Present, Industry-leading platform

Today, Procaccianti Companies is one of the largest, most sophisticated, and most respected privately-held real estate firms in the United States.
The company executes a broad platform that encompasses all sectors of real estate with nearly 10,000 associates across all operating companies throughout the United States.
We are a fully integrated company with a sophisticated stable of performance-driven operating companies to service the unique demands of the industry.
For more than 50 years and through nearly 1,000 real estate transactions, Procaccianti Companies has owned, developed, or managed hundreds of assets coast to coast, surpassing 60 million square feet of real estate with a historical portfolio valued in the billions.