Washington Trust provides $5.8M loan for Westerly self-storage purchase

THE WASHINGTON TRUST CO. recently provided a $5.8 million loan to a Pennsylvania-based company to buy a self-storage facility in Westerly, pictured. / COURTESY THE WASHINGTON TRUST CO.

WESTERLY – The Washington Trust Co. through its commercial real estate group recently provided a $5.8 million loan to a Pennsylvania-based company to buy a self-storage facility in Westerly, according to a news release.

The loan to Granite SS LLC, an affiliate of The Storage Investment Group LLC, allowed the company to buy a 367-unit self-storage facility spanning a 3.51-acre land parcel in Westerly, according to the release.

Built in 2004, the property features drive-up access for most of its units, as well as uncovered, rentable spaces for recreational vehicles, boats and trailers.

Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com. 

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