COLLIERS M&G ARRANGES $10.5 MILLION MEDICAL CONSTRUCTION LOAN

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PROVIDENCE, R.I. — Boston-based Colliers Meredith & Grew has arranged $10.5 million in construction financing for 90 Plain Street, a four-story, 39,775-square-foot medical office building located in downtown Providence. At the time of closing, the property was fully leased to Women & Infants Hospital; it is located adjacent to the Women & Infants Hospital campus, as well as Rhode Island Hospital. David Douvadjian and Thomas Welch of Colliers’ Capital Markets Group originated the loan on behalf of an entity related to Atlantic Management. It carries a 10-year term and a fixed interest rate. The lender was Middlesex Savings Bank.

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