Washington Trust finances Boston project

WESTERLY – The Washington Trust Co.’s branch footprint is strictly in Rhode Island, but Rhode Island’s largest independent bank recently announced a loan far beyond the state border.
Washington Trust’s commercial real estate group provided a $1.54 million loan to Orchard Street Acquisition LLC to refinance and to pay for improvements at a 13,200-square-foot multi-tenanted office on Centre Street in the Jamaica Plain neighborhood of Boston.
“The property’s location along one of the most traveled rotaries in the metro Boston area makes it an attractive space for tenants looking for office space in the area,” said Joseph J. MarcAurele, Washington Trust’s chairman, president and CEO.
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.