{"id":1004050177,"date":"2012-09-24T10:17:46","date_gmt":"2012-09-24T18:17:46","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=70065"},"modified":"2025-02-19T03:00:02","modified_gmt":"2025-02-19T11:00:02","slug":"washington-trust-provides-4-8m-financing-for-historic-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/washington-trust-provides-4-8m-financing-for-historic-property\/","title":{"rendered":"Washington Trust Provides $4.8M Financing for Historic Property"},"content":{"rendered":"<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/The-Gardner-Building.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-70066\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/09\/The-Gardner-Building.jpg\" alt=\"\" width=\"200\" height=\"300\" \/><\/a>By Adriana Pop, Associate Editor<\/p>\n<p>The Washington Trust\u2019s commercial real estate group recently provided $4.8 million in commercial mortgage financing to Emanon Associations L.P. The funds will be used to refinance, capitalize and improve The Gardner Building in Providence.<\/p>\n<p>Located at 40 Fountain St., the eight-story, 75,000-square-foot office property has been owned by Emanon Associations for more than 20 years.<\/p>\n<p>\u201cThe Gardner Building is located in an area of Providence, R.I., that\u2019s currently being revitalized, which is a nice story for our capital city,\u201d said Joseph MarcAurele, Washington Trust&#8217;s chairman, president &amp; CEO. \u201cIt historically has had a strong and mixed tenant base, including private, nonprofit and public sector tenants, which bodes well for the success of the project.\u201d<\/p>\n<p>Former home to the state\u2019s Treasury offices, the building dates back to 1916. It originally housed the R.L. Greene Paper Co. and was named after its president, Nathan Gardner.<\/p>\n<p>In other news, the Rumford Center in East Providence has received the 2012 Project of the Year Award from the Northeastern Economic Developers Association.<\/p>\n<p>The mill complex was built in 1856 for Rumford Chemical Works Co. It produced baking powder and shipped it across the nation and around the world until the company closed in1968. In 2006, the remaining nine factory buildings were purchased by developers Peregrine Group and Kirkbrae Properties, which planned to convert the 8.5 acre historic property into residential, office and retail space.<\/p>\n<p>Requiring an investment of $40 million, the 200,000-square-foot Rumford Center now features 112 apartment units, 60,000 square feet of office space, a restaurant and numerous retail tenants. It employs 120 people.<\/p>\n<p>\u201cThe Rumford Center project has had an indelible positive impact on the community and has already become an important focal point for historic preservation and urban\/suburban revitalization in East Providence,\u201d said James Moran, principal &amp; economic planner for the city of East Providence, in a statement.<\/p>\n<p><em>Photo credits: www.businesswire.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Washington Trust&rsquo;s commercial real estate group recently provided $4.8 million in commercial mortgage financing to Emanon Associations L.P. The funds will be used to refinance, capitalize and improve The Gardner Building in Providence. Located at 40 Fountain St., the eight-story, 75,000-square-foot office property has been owned by Emanon Associations for more than 20 years. &ldquo;The Gardner Building is located in an area of Providence, R.I., that&rsquo;s currently being revitalized, which is a nice story for our capital city,&rdquo; said Joseph MarcAurele, Washington Trust&#8217;s chairman, president &amp; CEO.<\/p>\n","protected":false},"author":260,"featured_media":1004506597,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[1815],"class_list":["post-1004050177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Washington Trust Provides $4.8M Financing for Historic Property - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/washington-trust-provides-4-8m-financing-for-historic-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Washington Trust Provides $4.8M Financing for Historic Property\" \/>\n<meta property=\"og:description\" content=\"The Washington Trust&rsquo;s commercial real estate group recently provided $4.8 million in commercial mortgage financing to Emanon Associations L.P. The funds will be used to refinance, capitalize and improve The Gardner Building in Providence. Located at 40 Fountain St., the eight-story, 75,000-square-foot office property has been owned by Emanon Associations for more than 20 years. &ldquo;The Gardner Building is located in an area of Providence, R.I., that&rsquo;s currently being revitalized, which is a nice story for our capital city,&rdquo; said Joseph MarcAurele, Washington Trust&#039;s chairman, president &amp; CEO.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/washington-trust-provides-4-8m-financing-for-historic-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-24T18:17:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T11:00:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/The-Gardner-Building.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-trust-provides-4-8m-financing-for-historic-property\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-trust-provides-4-8m-financing-for-historic-property\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Washington Trust Provides $4.8M Financing for Historic Property\",\"datePublished\":\"2012-09-24T18:17:46+00:00\",\"dateModified\":\"2025-02-19T11:00:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-trust-provides-4-8m-financing-for-historic-property\\\/\"},\"wordCount\":320,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-trust-provides-4-8m-financing-for-historic-property\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/The-Gardner-Building.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-trust-provides-4-8m-financing-for-historic-property\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-trust-provides-4-8m-financing-for-historic-property\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-trust-provides-4-8m-financing-for-historic-property\\\/\",\"name\":\"Washington Trust Provides $4.8M Financing for Historic Property - 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She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. 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