Washington Trust’s Commercial
Real Estate Group recently provided $8.8 million in financing
for the refinancing of University Medical Center, LLC located at 195
Collyer St. in Providence, R.I. and Collyer Rehabilitation Center, LLC
located at 208 Collyer St. Both are medical office buildings primarily
leased to Miriam Hospital.
“University Medical Center and Collyer Rehabilitation Center are
conveniently and strategically located in Providence and provide a home
for some of Rhode Island’s most respected medical institutions,” said
Joseph J. MarcAurele, Washington Trust Chairman, President and Chief
Executive Officer.
Both locations are in close proximity to Miriam Hospital and Interstate
95. Due to increasing industry trends in off-site ambulatory service
center development as well as an aging population, the strong occupancy
of both locations is projected to continue. Both properties are F.H.
French affiliated properties. F.H. French is a full service real estate
firm that owns approximately 750,000 square feet of commercial office
and medical properties throughout Rhode Island. For more information,
please go to www.fhfrench.com.
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 Bethany Lyons, Vice President, Commercial Real
Estate Group, at 401-348-1538 or 800-475-2265 ext. 1538.
ABOUT WASHINGTON TRUST
Founded in 1800, Washington
Trust is one of New England’s premier financial services companies,
providing commercial banking, personal
banking, mortgage banking, and wealth
management services to individuals and institutions throughout the
region. 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. 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).
Copyright Business Wire 2014