Washington Trust finances for One Financial

By Rhonda Miller
PBN Staff Writer

WESTERLY – Washington Trust’s Commercial Real Estate Group has provided commercial mortgage financing for a historic property, One Financial Center Plaza, in downtown Providence, according to a press release from the bank.

Built in 1896, One Financial Center Plaza is a 12-story office building at 10 Weybosset Street. The 128,000-square-foot building is the city’s first fireproof steel-framed “skyscraper.”

“This is an exceptional property. Not only is it well-positioned in Providence’s Financial District, but it has good quality interior finishes and has the ability to offer parking onsite or in nearby owned lots,” said Washington Trust Chairman, President and CEO Joseph MarcAurele.

The building originally had multiple tenants and retail until it was purchased by Amica Insurance in the 1950s. One Financial Center Plaza LLC purchased the property from Amica in the 19902 and under the leadership of President Aram G. Garabedian reconverted the property to multi-tenant office use.