BankRI Finances 30,000 Sq. Ft. Construction Project with $5.57 Million

BankRI Finances 30,000 Sq. Ft. Construction Project with $5.57 Million

BankRI announced on Monday that its Commercial Real Estate Division financed a $5.57 million construction loan for WSCHB, LLC to assist with the acquisition and development of nearly 4 acres of  land in Westerly.

“This is an exciting project that will turn a vacant lot into medical facility that will serve as an important resource for residents across southern Rhode Island,” said Keb Brackenbury, Senior Vice President of Commercial Real Estate Lending for BankRI. “We’re pleased to have had the opportunity to work with WSCHB, LLC and help get this project started.”

The loan wil help support construction of a 30,000 square foot multi-tenanted office facility located at 268 Post Road in Westerly.  The project is being developed, constructed and managed by John Greim, Jr., Managing Partner of WSCHB. Two of the buildings tenants include South County Health and Orthopedics Rhode Island.

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The transaction was facilitated by Keb Brackenbury, Senior Vice President of Commercial Real Estate Lending for BankRI.

Bank Rhode Island

Bank Rhode Island is a full service, FDIC-Insured financial institution headquartered in Providence.

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