Washington Trust Provides $11 Million Loan For 18,000 Square Foot Food Hall In Providence

The property asset involved in this transaction is a development site located at 1 Union Street, Providence, RI. The asset encompasses an area of 18,000 square feet, with a loan amount of $11,000,000 specifically designated for construction purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $11,000,000
• Lender: Washington Trust
• Landlord: Christopher Marsella - Marsella Development Corporation
• Loan Type: Construction
• Date: 03/31/2025

This transaction involved financing provided by Washington Trust to Track 15 Operating, LLC, aimed at developing a food hall known as Track 15 within the historic Union Station of Providence.