CENTRAL FALLS – The Washington Trust Co.’s Commercial Real Estate Group recently provided $4.9 million in financing to Phoenix Central Falls Industrial Investors LLC for the renovation and future tenant improvements of a 350,000-square-foot industrial building on Broad Street, the bank recently announced.
“Washington Trust is pleased to provide a financing solution for our client as they purchase and reposition this strategically located asset in Central Falls,” Julia Anne M. Slom, Washington Trust’s executive vice president and chief commercial real estate officer, said in a statement.
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Headquartered in Milwaukee, Phoenix Investors is a national real estate investment company whose core business is revitalizing former manufacturing facilities throughout the United States. Phoenix Investors affiliates hold interests in more than 65 million square feet of industrial real estate in the country, according to a news release.
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 multimillion-dollar projects, according to the release.
For more information, contact Kevin Hanrahan, vice president, Commercial Real Estate Group, at 401-348-1354.
