Washington Trust Provides $1.85 Million in Financing to RI Shopping Center

Soscia Enterprises, Inc. Renovates Coventry Shoppers Plaza

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided a $1,850,000 commercial mortgage to Soscia Enterprises, Inc. for the refinancing and completion of renovations to Coventry Shoppers Park, a neighborhood shopping plaza located at 22 Coventry Shoppers Park in Coventry, R.I.

"We are pleased to provide financing to Soscia Enterprises, Inc. for the Coventry Shopping Plaza, a property that has a history of strong, long-term tenancy, including a local R.I. favorite, Dave’s Marketplace,” said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer. “The plaza offers strong curb-appeal to shoppers and future occupants.

Cate Fusco, Washington Trust Vice President, served as lead lender for the project as part of Washington Trust's Commercial Real Estate Group, which 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. For more information, contact Julia Anne M. Slom, Senior Vice President, Commercial Real Estate Group, toll-free at 800-475-2265 x1430 or directly at 401-348-1430.

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. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).