WESTERLY, R.I., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided commercial financing to Village Hotel Associates, LLC, for the refinancing of a Hampton Inn hotel in South Kingstown, Rhode Island.
Opened in 2008, the hotel is located in the Village at South County Commons, a retail and residential center along the US Route 1 corridor in South Kingstown. The South Kingstown Hampton Inn is the official hotel for University of Rhode Island sporting events, and includes 54,437 square-feet of space featuring 100 guest-rooms, an indoor pool, meeting rooms, a gift shop, fitness room, and business center. Hampton Inn is the upper mid-priced hotel segment of Hilton.
“Washington Trust is fortunate to have been involved in this project since it’s inception - providing construction financing in 2007,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We have been pleased to see the property, which is well located in a premier retail center, become a prominent, well-received hotel in the market.”
Village Hotel Associates is operated by South County Commons Hospitality, LLC.
Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Catherine Fusco, Vice President, Commercial Real Estate Group, at 401-348-1681 or 1-800-475-2265 ext. 1681.
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Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ:WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.
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Source:The Washington Trust Company