By Kelly L. Anderson
PBN Staff Writer
WESTERLY – Washington Trust’s Commercial Real Estate Group is providing $1.85 million in commercial lending to Soscia Enterprises Inc. for refinancing and completion of renovations to Coventry Shoppers Park.
“We are pleased to provide financing to Soscia Enterprises, Inc. for the Coventry Shopping Park, a property that has a history of strong, long-term tenancy, including a local Rhode Island favorite, Dave’s Marketplace,” said Joseph J. MarcAurele, Washington Trust Bancorp Inc., chairman, president, and CEO. “The plaza offers strong curb-appeal to shoppers and future occupants.”
The shopping plaza is located at 22 Coventry Shoppers Park in Coventry.
Washington Trust's Commercial Real Estate Group’s Vice President Cate Fusco was the lead lender for the project. The commercial group 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 multimillion-dollar projects.