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.
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