Washington Trust Finances $5 Million RI Assisted Living Facility
Scandinavian Home Also Offers Skilled Nursing & Rehabilitation Services
WESTERLY, R.I.--(BUSINESS WIRE)-- Washington Trust'sCommercial Real Estate Groupprovided $5,000,000 in construction financing to Scandinavian Home, Inc. for a 2,000 square feet addition to an assisted living facility in Cranston, RI as well as renovations to existing facilities. Founded in 1930, Scandinavian Home is a non-profit community located in the Edgewood section of Cranston, Rhode Island. The facility offers Assisted Living Community and a Skilled Nursing & Rehabilitation Center.
"The Scandinavian Home has provided quality care for more than 80 years and this expansion will help them continue their fine services for years to come," 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, contactJoe Confessore, Vice President and Team Leader, Commercial Lending, 401-348-1439 or 1-800-475-2265 ext. 1439.
Founded in 1800,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. OurCommercial Banking Groupoffers 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 ofWashington Trust Bancorp, Inc.(NASDAQ Global Select, symbol: WASH).
Elizabeth B. Eckel, 401-348-1309
KEYWORDS: United States North America Rhode Island
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