Washington Trust Finances $1.5 Million Commercial Real Estate Project in CT

RI Bank Finances New Haven, CT Area Apartment Complex

WESTERLY, R.I.--(BUSINESS WIRE)--Washington Trust’s Commercial Real Estate Group provided $1,548,000 in commercial mortgage financing to George C. Field. Co. for improvements on a 31- unit apartment complex located on a 5.6 acre parcel at 1 Cohasset Lane in Madison, Connecticut.  The Bank's financing package includes both a revolving line of credit to fund the construction project and capital improvements for renovations for the complex, which is located in New Haven County, Connecticut.

“This property has it all, as it is less than a quarter-mile from the train station, on the fringe of downtown Madison, an affluent, shoreline community located on Interstate 95, just outside New Haven, Connecticut.”

“You've heard the term,  location, location, location," said Joseph J. MarcAurele, Washington Trust Bank Chairman, President, and Chief Executive Officer. "This property has it all, as it is less than a quarter-mile from the train station, on the fringe of downtown Madison, an affluent, shoreline community located on Interstate 95, just outside New Haven, Connecticut."

Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Timothy M. Pickering, Senior Vice President, Commercial Real Estate Group, toll-free at 1-800-475-2265 ext. 1482 or directly at 401-348-1482.

Founded in 1800, Washington Trust is one of New England’s premier financial services companies, providing commercial banking, personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast.  Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).