News: Front Section
Posted: November 21, 2012
Washington Trust provides $1.946 million financing for 138 Development Associates, LLC
Washington Trust's commercial real estate group recently provided a commercial construction financing package in the amount of $1.946 million to 138 Development Associates, LLC for the development of Brandywyne, a 40-unit active adult residential community, situated on 23.32 acres located off Mooresfield Rd.
"This property is ideally situated in picturesque South County location, but offers its residents a variety of floor plans from which to chose," said Joseph MarcAurele, Washington Trust chairman, president and chief executive officer.
Cate Fusco, Washington Trust vice president, served as lead lender for the project as part of Washington Trust's commercial real estate group, which provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects.
Washington Trust is one of New England's leading financial services companies, providing commercial banking, personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. Their commercial banking group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast.
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