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Boston & New England  + New England  + Finance  |  July 13, 2023
Emily Fu
By: Emily Fu

Washington Trust Provides $30M for Rhode Island Apartment Building  

Washington Trust’s Commercial Real Estate Group has provided $30 million in financing to Newport Apartments to construct a 142-unit apartment building in East Providence, Rhode Island.  

The development will be located on Newport Avenue in the Rumford section of East Providence and will consist of 47 studio, 43 one-bedroom, and 52 two-bedroom units. The apartment building will offer amenities such as a fitness center, a main lobby with a package room and meeting area, an outdoor swimming pool, and a pool house.  

“With high inflation rates and a very competitive housing market making rental properties more popular over the past several years,” said Julia Anne M. Slom, Washington Trust’s executive vice president & chief cre officer. Construction is expected to be completed by October 2024.  

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Inside The Story

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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