Washington Trust Provides $8.8 Million in Financing to Two Medical Office Buildings in Providence, RI

Business Wire

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

Washington Trust’s Commercial Real Estate Group recently provided $8.8 million in financing for the refinancing of University Medical Center, LLC located at 195 Collyer St. in Providence, R.I. and Collyer Rehabilitation Center, LLC located at 208 Collyer St. Both are medical office buildings primarily leased to Miriam Hospital.

“University Medical Center and Collyer Rehabilitation Center are conveniently and strategically located in Providence and provide a home for some of Rhode Island’s most respected medical institutions,” said Joseph J. MarcAurele, Washington Trust Chairman, President and Chief Executive Officer.

Both locations are in close proximity to Miriam Hospital and Interstate 95. Due to increasing industry trends in off-site ambulatory service center development as well as an aging population, the strong occupancy of both locations is projected to continue. Both properties are F.H. French affiliated properties. F.H. French is a full service real estate firm that owns approximately 750,000 square feet of commercial office and medical properties throughout Rhode Island. For more information, please go to www.fhfrench.com.

Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Bethany Lyons, Vice President, Commercial Real Estate Group, at 401-348-1538 or 800-475-2265 ext. 1538.

ABOUT WASHINGTON TRUST
Founded in 1800, 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. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).

Contact:
Washington Trust
Anthony Nunes, 401-348-1657
Marketing Department
ajnunes@washtrust.com
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