News: Rhode Island
Posted: November 12, 2009
Washington Trust provides $1.6 million to Matunuck Beach Properties
Washington Trust's commercial lending group recently provided $1.6 million in financing to Matunuck Beach Properties, Inc. for upgrades to property that is leased to seasonal beach cottage owners in Matunuck, known as Roy Carpenter's Beach.
Matunuck Beach Properties have been owned by Nancy Carpenter Thoresen and her children Christa Thoresen and Robert Thoresen, for generations. Matunuck Beach Properties leases the land to the private owners of the 377 beach cottages.
"Washington Trust welcomes the Thoresen's Matunuck Beach Properties business as new customers," said John Warren, Washington Trust chairman and CEO. "We wish them continued success with their beach properties."
LeRoy Stanton Carpenter purchased the 120 acre farm property in 1918 for $8,000.
MORE FROM Rhode Island
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary