Residential Properties Ltd. takes pleasure in announcing the sale of 527 Thames Street, 537 Thames Street, and 2 Goodwin Street in Newport. RPL Broker Associate Libby Kirwin proudly represented both sides in this multimillion-dollar transaction. For nearly four decades, the building has been home to a staple of Newport’s active restaurant scene, Scales & Shells, a favorite of both natives and visitors. Owners Debra and Andy Ackerman sold the building to Nautilus Property, LLC, formed by Peregrine Group, with plans to keep all of the staff on board, including the management team and head chef.  

The Ackermans’ story began more than 35 years ago. While living in the Emilia Romagna region of Italy, they were transformed by the delicious, ingeniously delectable cooking style of the area around Bologna and enchanted by the heady flavors and aromas. When they returned from abroad and settled in Newport, they decided to open a restaurant where they could share what they had experienced by offering the freshest and most appetizing seafood and pasta. In January of 1987, they opened Scales & Shells and have remained a cherished part of the Newport food scene and the community ever since.

“I’m very excited for Peregrine Group’s Newport Restaurant, LLC., as they create and share their version of Scales & Shells,” Kirwin said. “When selling a restaurant, it is key to act with integrity and discretion for your client while at the same time marketing such an entity to the community. I believe my prior experience helped me earn the Ackermans’ trust. After engaging with Colin Kane, CEO, I felt he was the perfect person to approach. And finally, based on our discussions and past business, without Gregory Fater, the attorney representing the Ackermans, this transaction would not have closed. We appreciate the ability of all parties to make this connection come to fruition and are excited for Peregrine Group’s new venture.”

The listing agent, Libby Kirwin, was born and raised in Newport and has successfully navigated the real estate industry for more than 28 years by staying ahead of the curve. For over a decade, Libby Kirwin Real Estate (LKRE) provided Aquidneck Island with superior skills in matching homeowners, buyers, renters, and business entrepreneurs with the right people and properties. In 2021, LKRE became part of Residential Properties Ltd., providing clients a broader reach and cutting-edge resources. For more information about Libby and to view her listings, please visit

About Residential Properties

Ltd.Residential Properties Ltd. is the largest privately held real estate company in Rhode Island and has been serving sellers and buyers of distinctive properties since 1981 through service, innovation, and sheer hard work. The Company, with nine local offices in Barrington, Cumberland, East Greenwich, Little Compton, Narragansett, Newport, Providence, the West Side (PVD), and Westport, Massachusetts, services all of Rhode Island, the Connecticut shoreline, and southeastern and central Massachusetts. In addition, the RPL Relocation Department assists buyers and sellers on transactions throughout the country, while an office in London, England extends RPL’s presence internationally. More information is online at


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