CENTRAL
FALLS, R.I., Sept. 8,
2023 /PRNewswire/ -- Washington Trust's Commercial
Real Estate Group recently provided $4.925
million in financing to Phoenix Central Falls Industrial
Investors, LLC for the renovation and future tenant improvements of
a 350,000 square foot industrial building located on Broad Street
in Central Falls, R.I.
"Washington Trust is pleased to provide a financing solution for
our client as they purchase and reposition this strategically
located asset in Central Falls,"
said Julia Anne M. Slom, Washington
Trust's Executive Vice President & Chief Commercial Real Estate
Officer.
Phoenix Investors is a national real estate investment
company headquartered in Milwaukee, W.I., whose core business is the
revitalization of former manufacturing facilities throughout
the United States. Phoenix
Investors affiliates hold interests in more than 65 million square
feet of industrial real estate in the country.
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 Kevin Hanrahan, Vice President, Commercial Real
Estate Group, at 401-348-1354.
ABOUT WASHINGTON
TRUST®
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 washtrust.com.
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SOURCE The Washington Trust Company