{"id":1004085514,"date":"2013-10-21T23:50:03","date_gmt":"2013-10-22T07:50:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=201369"},"modified":"2025-02-19T02:54:42","modified_gmt":"2025-02-19T10:54:42","slug":"rockland-trust-provides-20m-for-renaissance-marriott-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rockland-trust-provides-20m-for-renaissance-marriott-deal\/","title":{"rendered":"Rockland Trust Provides $20M for Renaissance Marriott Deal"},"content":{"rendered":"<p><!--[if gte mso 9]&gt;--><\/p>\n<\/p>\n<\/p>\n<p><!--[if gte mso 9]&gt;--><\/p>\n<\/p>\n<p>Normal<\/p>\n<p>0<\/p>\n<\/p>\n<p>21<\/p>\n<\/p>\n<p>false<\/p>\n<p>false<\/p>\n<p>false<\/p>\n<\/p>\n<p>RO<\/p>\n<p>X-NONE<\/p>\n<p>X-NONE<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<p><!--[if gte mso 9]&gt;--><\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<\/p>\n<p><!--[if gte mso 10]&gt;--><\/p>\n<p>\/* Style Definitions *\/<\/p>\n<p>table.MsoNormalTable<\/p>\n<p>{mso-style-name:&#8221;Table Normal&#8221;;<\/p>\n<p>mso-tstyle-rowband-size:0;<\/p>\n<p>mso-tstyle-colband-size:0;<\/p>\n<p>mso-style-noshow:yes;<\/p>\n<p>mso-style-priority:99;<\/p>\n<p>mso-style-parent:&#8221;&#8221;;<\/p>\n<p>mso-padding-alt:0cm 5.4pt 0cm 5.4pt;<\/p>\n<p>mso-para-margin-top:0cm;<\/p>\n<p>mso-para-margin-right:0cm;<\/p>\n<p>mso-para-margin-bottom:10.0pt;<\/p>\n<p>mso-para-margin-left:0cm;<\/p>\n<p>line-height:115%;<\/p>\n<p>mso-pagination:widow-orphan;<\/p>\n<p>font-size:11.0pt;<\/p>\n<p>font-family:&#8221;Calibri&#8221;,&#8221;sans-serif&#8221;;<\/p>\n<p>mso-ascii-font-family:Calibri;<\/p>\n<p>mso-ascii-theme-font:minor-latin;<\/p>\n<p>mso-hansi-font-family:Calibri;<\/p>\n<p>mso-hansi-theme-font:minor-latin;<\/p>\n<p>mso-fareast-language:EN-US;}<\/p>\n<\/p>\n<p><em><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/Renaissance-Providence-Downtown.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-202421\" title=\"Renaissance Providence Downtown\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/Renaissance-Providence-Downtown.jpg\" alt=\"\" width=\"300\" height=\"208\" \/><\/a>by Adriana Pop, Associate Editor<\/em><\/p>\n<p>Rockland Trust has provided $20 million in financing for The Procaccianti Group&#8217;s purchase of the Renaissance Marriott Downtown Hotel in Providence. Located near the Rhode Island Convention Center, the property features 264 hotel rooms, eight suites, and nine meeting rooms. Amenities include a 24-hour fitness room, Wi-Fi, high-end finishes and appliances, and valet or private parking.<\/p>\n<p>Procaccianti\u2019s local portfolio also includes Residences Providence, a mixed-use development including condominium, hotel, retail and restaurants components. Rockland provided $18 million to refinance the property last year. The Renaissance Marriott loan marks Rockland\u2019s the third financing for Procaccianti.<\/p>\n<p>In other finance news, Washington Trust&#8217;s commercial real estate group has provided $5.3 million in acquisition financing to Residences at Garden City, L.L.C., for its purchase of Garden City Apartments, a 94-unit property in Cranston.<\/p>\n<p>Built in 1948, the complex encompasses seven two-story buildings with 56 one-bedroom apartments and 38 two-bedroom units on a 5.2 acre site. Amenities include a landscaped park-like setting, off-street and garage parking, 24-hour emergency maintenance and laundry facilities. The property is located near Garden City Shopping Center.<\/p>\n<p><em>Photo credits: www.marriott.com <\/em><\/p>\n<p><em><br \/>\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rockland Trust has provided $20 million in financing for The Procaccianti Group&#8217;s purchase of the Renaissance Marriott Downtown Hotel in Providence. The loan marks the third financing project the Procaccianti Group has completed with Rockland Trust.<\/p>\n","protected":false},"author":260,"featured_media":0,"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-1004085514","post","type-post","status-publish","format-standard","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>Rockland Trust Provides $20M for Renaissance Marriott Deal - 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\/rockland-trust-provides-20m-for-renaissance-marriott-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rockland Trust Provides $20M for Renaissance Marriott Deal\" \/>\n<meta property=\"og:description\" content=\"Rockland Trust has provided $20 million in financing for The Procaccianti Group&#039;s purchase of the Renaissance Marriott Downtown Hotel in Providence. 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