WESTERLY, R.I.--(BUSINESS WIRE)-- Washington Trust’s Commercial Real Estate Group recently provided a commercial construction financing package in the amount of $1,946,000 to 138 Development Associates, LLC for the development of Brandywyne, a 40-unit active adult residential community, situated on 23.32 acres located off Mooresfield Road in South Kingstown, R.I.
Washington Trust Finances $1.9 Million Adult Residential Community Brandywyne Facility Located In South Kingstown, RI (Photo: Business Wire)
“This property is ideally situated in a picturesque South County location, but offers its residents a variety of floor plans from which to chose,” said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer.
Cate Fusco, Washington Trust Vice President, served as lead lender for the project as part of Washington Trust's Commercial Real Estate Group, which 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 Julia Anne M. Slom, Senior Vice President, Commercial Real Estate Group, toll-free at 800-475-2265 x1430 or directly at 401-348-1430
Founded in 1800, Washington Trust is one of New England’s premier financial services companies, providing commercial banking, personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).
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Elizabeth B. Eckel, 401-348-1309
Source: Washington Trust