Rockland finances Renaissance purchase

PROVIDENCE – Rockland Trust has announced $20 million in financing for The Procaccianti Group’s purchase of the Renaissance Marriott Downtown Hotel in Providence.
Based in Cranston, The Procaccianti Group is a privately held real estate and investment management company which has managed real estate assets in 28 states.
“The Procaccianti Group looks forward to further development of the Renaissance Marriott Downtown Hotel,” said Robert Leven, chief investment officer for the company. “The continued support of Rockland Trust will help us promote the growth of the local economy by maintaining high-quality standards that drive more visitors to the city of Providence.”
“Rockland Trust is excited to work with the Procaccianti Group again on this significant project,” said Graham Kilvert, first vice president and lending center manager at Rockland Trust. “The Renaissance Marriott plays an important role in the local economy and we are confident the Procaccianti Group will continue to improve this world-class property.”