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Developer Gets $6M for Condo Construction

WEST GREENWICH, RI-The funds will go toward the development of residential units that are part of a 2.5-million-sf lifestyle center.

By Beverly Ford | Updated on September 20, 2006

(To read more on the debt and equity markets, click here.)

WEST GREENWICH, RI-The developer of the Village Retail Center has received a $6-million bridge loan that will help construct residential units at a 2.5-million-sf lifestyle center. The project is rising on nearly 480 acres in West Greenwich and Coventry. The developer is also building 160,000 sf of office space, a hotel and a 160,000 sf mall at the site.

The funding was provided by Potomac Realty Capital, LLC, of Needham, MA, which has also been involved in funding the Centre of New England, a mixed-use project that will include a 1.5-million-sf value mega mall.

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