Rhode Island marina gains new financing

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Washington Trust’s Commercial Real Estate Group recently provided a $1,625,000 commercial mortgage to Fox Point Marina LLC for the refinancing of a mixed-use property that includes two restaurant units and a 56-boat-slip marina in Providence, R.I.

“The location of this property is ideally situated near Brown University and a popular retail area,” Washington Trust chairman, president and CEO Joseph MarcAurele said in a statement. “The ongoing redevelopment of this area will increase property values over the next several years.”

According to the marina’s website, it is under new ownership and management.

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