Market Overview

Washington Trust Finances $4.2 Million Greater Boston Property

WESTERLY, R.I.--(BUSINESS WIRE)--

Washington Trust's Commercial Real Estate Group recently provided a $4.2 million commercial mortgage to Parkingway Acquisitions, LLC for the purchase of a two-building multi-use property in the Greater Boston, Massachusetts area. The property, located at 150-152 Parkingway/ 31 Hancock Court in Quincy, Massachusetts, is situated on 55,265 square feel of land, and consists of 57,995 square feet of retail and office space and 119 parking spaces.

Washington Trust provided $4.2 million in commercial real estate financing to Parkingway Acquisition ...

Washington Trust provided $4.2 million in commercial real estate financing to Parkingway Acquisitions, LLC for multi-use property at 150-152 Parkingway/ 31 Hancock Court in Quincy, Massachusetts, in Greater Boston area. (Photo: Business Wire)

"This property is ideally situated on the newly-constructed Walter Hannon Parkway, just across the street from a planned $1.6 billion revitalization of historic downtown Quincy,” said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer.

Washington Trust, the largest bank headquartered in Rhode Island, provides commercial real estate financing throughout New England and the Northeast. The Bank's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Bank financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information regarding the Parkingway project, contact Mary Ettinger, Vice President, Commercial Real Estate Group, 401-348-1415 or 1-800-475-2265 ext. 1415.

Washington Trust is one of New England's premier financial services companies, providing commercial banking,personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. The Bank's Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. The Bank's team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. Founded in 1800, The Washington Trust Company is the oldest community bank in the nation and is a subsidiary of Washington Trust Bancorp, Inc. (NASDAQ Global Select, symbol: WASH).

Washington Trust
Elizabeth B. Eckel, 401-348-1309
SVP Marketing
ebeckel@washtrust.com

 

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