Washington Trust’s Commercial
Real Estate Group recently provided $1.5 million in financing
to Darien Hospitality Group, LLC for the refinancing of a ground lease
on an over 5 acre parcel at 150-152 Ledge Road in Darien, CT currently
leased to Whole Foods Market.
Whole Foods Market is a publicly traded Fortune 500 Company and the
largest chain of natural and organic foods in the United States as well
as the country’s 8th largest public grocery store chain. The 50,000
square-foot Whole Foods Market at 150-152 Ledge Road in Darien is the
single-tenant of the 5.12-acre site. The property is ideally located in
Darien, directly off of Exit 11 of Interstate 95 with frontage on the
busy Boston Post Road (Route 1). Darien Hospitality Group, LLC acquired
the property in 1994 and it was run as a Howard Johnsons hotel until
Whole Foods Market executed their lease in 2008.
“Whole Foods is a strong, trendsetting brand in their industry, and the
Darien location provides an ideal center of visibility for the Market,”
said Joseph J. MarcAurele, Washington Trust Chairman, President and
Chief Executive Officer.
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, at 401-348-1482 or 800-475-2265 ext. 1482.
ABOUT WASHINGTON TRUST
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 2014