Washington Trust Finances Two New England Retail Centers

The commercial real estate division of Westerly, R.I.-based Washington Trust has provided $7.2 million in financing for two shopping centers located in Smithfield, R.I., and Raynham, Mass. The financing was provided to Linear Retail Smithfield #1 LLC and Linear Retail Raynham #1 LLC.

The Smithfield shopping center contains 35,130 square-feet of retail space, and the Raynham shopping center has 21,247 square feet of retail space, Washington Trust's commercial real estate group reports.

"Both properties are located on prominent retail corridors with access to local residential areas as well as to major interstates,’ says Joseph J. MarcAurele, Washington Trust chairman, president and CEO.

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 to multimillion-dollar projects.

SOURCE: Washington Trust


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