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Newport center sold

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Newport Harbor Corp. has sold the Newport Yachting Center in Rhode Island, saying it wants to concentrate on its core hospitality businesses. The decision was announced after the yachting center agreed to plead no contest to charges that 10 summertime concerts violated the city’s noise ordinance, according to a story in the Newport Daily News.

The development firm the Peregrine Group has purchased the property.

Newport Harbor Corp. will continue to operate the Newport International Boat Show, the Charter Yacht Show, The Mooring, The Smoke House and the Newport Yachting Center private events business at the Sunset Terrace by leasing back the land from the new owner.

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