Washington Trust finances Blackstone Place purchase

WESTERLY – Washington Trust’s Commercial Real Estate Group has provided $4.5 million in commercial mortgage financing for the acquisition of the Blackstone Place retail building on East Avenue in Pawtucket, according to a press release from the bank.
The financing was provided to Blackstone Place Limited Partnership for the acquisition of the 38,000-square-foot building currently occupied by Dunkin’ Donuts, Rite Aid and Hillside Avenue Family & Community Medicine.
“This property is located at the end of Hope Street at the junction of Blackstone Boulevard in the affluent East Side of Providence neighborhood,” said Washington Trust Chairman, President and CEO Joseph MarcAurele. “It has excellent tenants, including Rite Aid, the third largest drugstore chain in the country.”