Washington Trust Finances $4.2 Million Greater Boston Property
Bank Finances Mixed-Use Building Located Near Historic Quincy, MA District
WESTERLY, R.I.--(BUSINESS WIRE)-- Washington Trust'sCommercial Real Estate Grouprecently provided a $4.2 million commercial mortgage to Parkingway Acquisitions, LLC for the purchase of a two-building multi-use property in the Greater Boston, Massachusetts area.The property, located at 150-152 Parkingway/ 31 Hancock Court in Quincy, Massachusetts, is situated on 55,265 square feel of land, and consists of 57,995 square feet of retail and office space and 119 parking spaces.
Washington Trust provided $4.2 million in commercial real estate financing to Parkingway Acquisitions, LLC for multi-use property at 150-152 Parkingway/ 31 Hancock Court in Quincy, Massachusetts, in Greater Boston area. (Photo: Business Wire)
"This property is ideally situated on the newly-constructed Walter Hannon Parkway, just across the street from a planned $1.6 billion revitalization of historic downtown Quincy," said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer.
Washington Trust, the largest bank headquartered in Rhode Island, provides commercial real estate financing throughout New England and the Northeast.The Bank'sCommercial Real Estate Groupprovides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Bank financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information regarding the Parkingway project, contactMary Ettinger,Vice President, Commercial Real Estate Group, 401-348-1415 or 1-800-475-2265 ext. 1415.
Washington Trustis one of New England's premier financial services companies, providingcommercial banking,personal banking,mortgage banking, andwealth managementservices to individuals and institutions throughout the region. The Bank'sCommercial Banking Groupoffers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast.The Bank's team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. Founded in 1800, The Washington Trust Company is the oldest community bank in the nation and is a subsidiary ofWashington Trust Bancorp, Inc.(NASDAQ Global Select, symbol: WASH).
Photos/Multimedia Gallery Available:http://www.businesswire.com/multimedia/home/20130117006217/en/
Elizabeth B. Eckel, 401-348-1309
KEYWORDS: United States North America Connecticut Massachusetts New York Rhode Island
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