Washington Trust Finances $4.5 Million Acquisition of Blackstone Place in Pawtucket, R.I.
Washington Trust’s
Commercial
Real Estate Group recently provided $4,500,000 in commercial
mortgage financing to Blackstone Place Limited
Partnership for the acquisition of Blackstone Place, a 38,000 square
foot retail building located at 727 East Avenue, Pawtucket, R.I. The
retail space is currently occupied by Rite Aid, Hillside Avenue Family &
Community Medicine, and Dunkin Donuts.
“This property is located at the end of Hope Street at the
junction of Blackstone Boulevard in the affluent East Side of Providence
neighborhood,” said Joseph J. MarcAurele, Washington Trust Chairman,
President, and Chief Executive Officer. Adding, “It has
excellent tenants, including Rite Aid, the third largest drugstore chain
in the country.”
Washington Trust's
Commercial
Real Estate Group provides commercial real estate
mortgages for the construction, refinancing, or purchasing of investment
real estate projects. Financing ranges in size from several hundred
thousand dollars up to multi-million dollar projects. For more
information, contact Mary
Ettinger, Vice President, Commercial Real Estate Group,
401-348-1415 or 1-800-475-2265 ext. 1415.
Founded in 1800, Washington Trust is the largest independent bank
headquartered in Rhode Island and the oldest community Bank in the
nation. Washington Trust provides commercial banking, small
business banking, personal banking, mortgage banking, and wealth
management and trust services to individuals and institutions throughout
the Northeast. Our Commercial Banking Group offers a full line of
commercial and industrial lending, commercial real estate, and cash
management services to borrowers throughout the Northeast. Washington
Trust is an SBA preferred lender. Our team of experienced professionals
are dedicated to providing customized, comprehensive financing and
personalized services. The Washington Trust Company is a subsidiary of
Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).
