Washington Trust Finances $1.96 Million RI Condominium Development

Washington Trust Finances $1.96 Million RI Condominium Development

16-Unit, 8 Duplex Project Located in Narragansett, RI

WESTERLY, R.I.--(BUSINESS WIRE)-- Washington Trust'sCommercial Real Estate Group recently provided $1.96 million in constructionfinancingto Narragansett Highland Developers LLC for the development of a 16-unit, 8 duplex condominium project situated in a private cul-de-sac on Boston Neck Road, Narragansett, RI.

"The project offers a nice location, attractive pricing and numerous floor plans that should appeal to home buyers," said Joseph J. MarcAurele, Washington Trust Chairman, President and CEO.

Washington Trust'sCommercial Real Estate Groupprovides 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, contactCatherine Fusco, Vice President, Commercial Lending, 401-348-1681 or 1-800-475-2264 ext. 1681.

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).

Washington Trust
Elizabeth B. Eckel, 401-348-1309
SVP Marketing

KEYWORDS: United States North America Rhode Island


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