Washington Trust's Commercial Real Estate Group recently provided $2.6 million to Curo Elmwood, LLC, for the refinancing of a Walgreens drugstore located at 533 Elmwood Ave. The 2.13-acre property, located in South Providence, provides customers with 13,930 s/f of retail space including a pharmacy drive through window. Walgreen's is one of the largest drugstore chains in the U.S., and the Elmwood Ave. location is currently one of the company's highest producing stores.
"With the heavy traffic on Elmwood Ave. and familiarity of the Walgreens name, this property is primed for continued success," said Joseph MarcAurele, Washington Trust chairman and chief executive officer.
Curo Elmwood, LLC is managed by Curo Enterprises out of New York.
Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. 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.