WashTrust to finance building conversion

WESTERLY – The Washington Trust Co.’s commercial real estate group recently provided $723,750 in financing to Mystic Drawbridge Holdings I LLC of Mystic, Conn., which is converting the upper floors of a historic building in downtown Mystic into two apartments.
Originally constructed in 1914, the former Odd Fellow Building at 11-13 Cottrell St. overlooks the Mystic River and the historic Mystic Drawbridge. The 9,600-square-foot, four-story building will feature retail space on the first floor, with the top three floors used for living space
“We wish Mystic Drawbridge Holdings the best of success with its renovation plans for this historic property located in downtown Mystic – a quintessential New England town,” said Joseph J. MarcAurele, Washington Trust president and CEO.
Washington Trust’s commercial real estate group provides commercial real estate mortgages for purchasing, refinancing or constructing investment real estate 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.