WashTrust finances East Side project

WESTERLY – Washington Trust’s commercial real estate group recently provided financing to Stonehenge Partners LLC of Boston to refinance five mixed-use properties on the East Side of Providence.
The properties, with residential and retail units, are located near Brown University and the Rhode Island School of Design.
Stonehenge Partners was formed in 1998 for the purposes of owning real estate investment properties in Rhode Island, according to Washington Trust.
“These properties are well situated on the East Side of Providence, where residential units are always in demand, and will have great appeal to the students, faculty and administration of Brown University, Rhode Island School of Design and Johnson & Wales University,” said John C. Warren, Washington Trust chairman and CEO. “Washington Trust is happy to provide financing.”
Washington Trust’s commercial real estate group provides commercial real estate mortgages for construction, refinancing or purchases. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects.
Washington Trust Bancorp Inc. (NASDAQ: WASH) 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.