Washington Trust provides $4.925 million in financing to Phoenix Central Falls Industrial Investors, LLC

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Washington Trust's Commercial Real Estate Group provides $4.925 million financing for the renovation of an industrial building in Central Falls, RI.

09/08/2023 - 09:00 AM

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.