Washington Trust provides Walgreens refinancing

Washington Trust’s Commercial Real Estate Group recently provided $2.6 million to refinance the mortgage of an Elmwood Avenue Walgreens drugstore in Providence.
The real estate group announced earlier this month that the money was going to Curo Elmwood LLC to refinance the drug store’s mortgage. The store, at 533 Elmwood Ave., sits on a 2.13-acre property with amenities, including nearly 14,000 square-feet of retail space and a pharmacy drive-thru window.
The Elmwood Avenue store is one of Walgreen’s highest producing stores, according to a Jan. 2 press release.
“With the heavy traffic on Elmwood Avenue and famioliarity of the Walgreens name, this property is primed for continued success,” said Joseph J. MarcAurele, Washington Trust chairman and CEO.
Washington Trust Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects ranging from several hundred thousand dollars to multimillion dollars.

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