Washington Trust's commercial real estate group provided $1.96 million in construction financing to Narragansett Highland Developers LLC for the development of a 16-unit, 8 duplex condominium project situated in a private cul-de-sac on Boston Neck Rd.
"The project offers a nice location, attractive pricing and numerous floor plans that should appeal to home buyers," said Joseph MarcAurele, Washington Trust chairman, president and CEO.
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.