Washington Trust finances downcity upgrades

WESTERLY – The Washington Trust Co.’s commercial real estate group recently provided a $783,750 commercial mortgage to Westminster Crossing LLC of Providence for refinancing and improvements to a 7,435-square-foot industrial building and a 1,900-square-foot multi-family home at 425 West Fountain St., Providence.
The industrial building is leased to Alert Ambulance.
Westminster Crossing is an affiliate of the Providence-based Armory Revival Co., a for-profit firm that renovates historic properties and develops residential communities. The three principals are Robert Dupre, H. LeBaron Preston and Mark Van Noppen.
“This ideally situated property, recently renovated, offers well-located industrial space to Providence commercial tenants, and provides improved living space for three families,” said John C. Warren, Washington Trust chairman and CEO.
Washington Trust’s commercial real estate group provides commercial real estate mortgages for construction of, refinancing of or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multimillion-dollar projects.
Washington Trust Bancorp Inc. (Nasdaq: WASH), based in Westerly, is the parent of The Washington Trust Co., a Rhode Island-chartered bank founded in 1800 that has offices in Rhode Island, Massachusetts and southeastern Connecticut. Additional information is available at www.washtrust.com.

No posts to display