Washington Trust provides $19M for East Providence apartments

EAST PROVIDNECE – The Washington Trust Co. recently provided $19.6 million in financing for a 134-unit apartment complex in East Providence.

The deal was made with Kettle Point Apartments LLC, which is constructing 65 one-bedroom units, 65 two-bedroom units and four three-bedroom townhouses on 6.61 acres on Kettle Point Avenue.

“Washington Trust is very excited to be involved with this fabulous project,” said Julia Anne M. Slom, senior vice president and team leader of the bank’s commercial real estate group. “The views from this location, combined with the proximity to Providence and its wonderful units and amenities, make this a one-of-a-kind property for the area.”

The development includes a clubhouse with a tenant lounge area and yoga room, along with an outdoor swimming pool and fitness center. The property features views of Narragansett Bay and Providence, according to a release.

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Washington Trust is a subsidiary of Washington Trust Bancorp Inc., the second-largest Rhode Island-based bank with $4.5 billion in assets.

Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.