Washington Trust Finances $4.2 Million Greater Boston Property

  Washington Trust Finances $4.2 Million Greater Boston Property

  Bank Finances Mixed-Use Building Located Near Historic Quincy, MA District

Business Wire

WESTERLY, R.I. -- January 17, 2013

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).

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Contact:

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