Washington Trust's commercial real estate group provided $5.25 million in financing to Residences at Garden City, LLC for the purchase of Garden City Apartments, a garden-style apartment complex. The complex, which maintains an onsite rental office, consists of seven two-story buildings with 56 one-bedroom apartments and 38 two-bedroom units across 5.16 acres.
The property, built in 1948, is adjacent to the northern end of Garden City Shopping Center which is one of Rhode Island's favorite retail destinations.
"This apartment complex offers the great amenities of the Garden City area," said Joseph MarcAurele, Washington Trust chairman, president and CEO. "Located 10 minutes outside of Providence and within close proximity to I-95, Rte. 295, and Rte. 2, it is also convenient base for commuters."