News: Rhode Island
Posted: April 9, 2008
Washington Trust provides $8.7m Spring Hill Suites acquisition mtge.
The Washington Trust Company's commercial real estate group recently provided an $8.7 million commercial mortgage to Warwick-CHI, LLC for financing the acquisition of a 108-room Spring Hill Suites Hotel.
Warwick-CHI, LLC will be managed by principal, George Tsunis' hotel development and management company, Chartwell Hotels, LLC, which operates full and limited service properties throughout eastern United States. The Tsuni family has more than two decades of experience in the hospitality industry, including owning and operating various hotels.
"Washington Trust is pleased to provide financing for the purchase of the Spring Hill Suites Hotel, which has been a strong performer in the market, and will continue to be under its new ownership." said John Warren, chairman and CEO of The Washington Trust Co.
Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for construction of, refinancing of, or purchasing investment real estate projects.
Tags:
Rhode Island
MORE FROM Rhode Island
Rhode Island
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
Quick Hits
Columns and Thought Leadership
Quonset is an essential piece of Rhode Island’s proposed Green Bond - by Steven J. King
While Quonset is known as the region’s leading engine for economic development and job growth, equally as important is its role in protecting and preserving the environment. Home to more than 800 acres of open space, an 18-hole public golf course, four public beaches
Nine things left by the Navy that are key to success at Quonset today - by Steven King
The modern Quonset Business Park is Rhode Island’s leading engine of job creation and economic growth. The park hosts 239 companies and over 14,000 jobs. That success rests on the foundation of two neighboring, now-closed military bases built by the U.S. Navy
The City of Warwick is the perfect choice - by Frank Picozzi
The late summer sky was bright and the mood festive at the family-friendly “Best in Town” event at Rhode Island’s first Floor & Décor store. Those looking to make some home improvements strolled through the warehouse, admiring the well-stocked aisles, fair
Rhode Island is on the move - and there’s no better example than Quonset - by gov. Dan McKee
This year has already brought significant economic progress in for the state of Rhode Island, and nowhere is this more noticeable than at the Quonset Business Park.
