banking

Washington Trust finances Lifespan medical building

Posted 10/23/12

WESTERLY – Washington Trust is financing another commercial real estate venture.

Earlier this month, the Westerly-based bank announced it has provided about $8.4 million in financing to Medical Asset Ventures LLC for a new 45,000-square-foot Lifespan medical office building on South County Trail in East Greenwich. The building will be designed for both primary and cardiac care.

Medical Asset Ventures is no stranger to medical facility development. The property is located next to the Greenwich Medical Office Park, a complex which was developed over the last decade by F.H. French Co., which is affiliated with MAV.

F.H. French Co. owns about 750,000 square feet of commercial office and medical properties throughout Rhode Island. During the last 25 years, FHF has owned, managed, developed or built million 2.5 million square feet of office, industrial and medical developments.

Washington Trust Chairman, President, and CEO Joseph J. MarcAurele is well aware of the changing face of health care service. “The current trend in healthcare is for medical practices to open facilities that are off the hospital campus, but still convenient for their patients,” he said in a statement announcing the undertaking. “Medical Asset Ventures has had proven success in developing these types of projects.”

In the last two months, Washington Trust’s commercial real estate group has provided $4.6 million in financing to Taurus CD 153 Batterymarch Street Limited Partnership and $4.8 million in financing to Emanon Associations LP for Providence’s Gardner Building at 40 Fountain St.

Calendar
PBN Hosted
Events

DEADLINE EXTENDED to Friday, October 3rd for applications for the 14th Annual Business Excellence Awards Program. And save the date for the Awards Dinner - November 12th at the Providence Marriott.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement