Bank Rhode Island (BankRI) has provided commercial financing of $2.5 million to The Break, LLC, dba The Break Hotel, due to open this month.
Situated just one block from the ocean and a short drive to four local beaches, The Break will offer 16 boutique guest rooms and suites, each featuring king beds, fireplaces, rainfall shower heads, Apple TV, iPad and iPod docking stations. Most accommodations include private balconies with ocean or sunset views. The property also has ample amenities, including two gourmet restaurants, spa, retail clothing store, gym, and a heated outdoor swimming pool. In addition, the hotel will have on-site management and staff on a year-round basis.
The property was developed by James and Rebecca Durkin of Narragansett. David Cunningham, VP senior business lender in the commercial real estate group at BankRI facilitated the transaction.