Washington Trust's Commercial Real Estate Group recently provided $6.012 million to 38 Main, LP to finance the acquisition and renovation of a mixed-use retail and office property. The property, situated on Main St., consists of 10,000 s/f of space including three front retail locations, a second floor office and a restaurant occupying rear space on both floors. The owner plans to renovate and reposition the property with new tenants.
"Just 47 miles northeast of New York City, Westport is one of the nations most affluent communities, and its lively, pedestrian driven Main Street provides one of the regions premier retail destinations," said Joseph MarcAurele, Washington Trust chairman 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.