Washington
Trust’s Commercial
Real Estate Group provided $4.3 million in acquisition
financing to Metro 100, LLC for a mixed use property in Milford, CT. The
property, located at 100-102 Lansdale Avenue, contains 23 apartment
units and 20,808 square feet of retail space. The Sponsors, Metro Star
Properties of Milford, CT, plan to make significant enhancements to the
property.
“This property is located in a great market and is being acquired
by experienced developers who have a long history of adding value to the
properties that they acquire,” said Joseph J. MarcAurle, Washington
Trust Chairman, President and CEO.
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
Pickering, Senior Vice President, Commercial Real
Estate Group, 401-348-1482 or 1-800-475-2265 ext. 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).
Copyright Business Wire 2013