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Washington Trust Finances Purchase of Historic Providence Office Building for LDRE Properties, LLC

WESTERLY, R.I., Oct. 28, 2014 (GLOBE NEWSWIRE) -- Washington Trust's Commercial Real Estate Group recently provided funding to LDRE, LLC to finance the acquisition of a historic office building on South Main Street in Providence, RI. The building will be the new Providence headquarters for Rhode Island based Lila Delman Real Estate.

The 3,840 square-foot building was constructed in 1784 at 369 South Main Street in Providence. Lila Delman Real Estate has been a successful Rhode Island real estate agent/broker for nearly 50 years, with offices in Narragansett, Watch Hill, Block Island, Newport, Jamestown and Providence.

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 Laurel L. Bowerman, Vice President, Commercial Real Estate Group, at 401-654-4847 or 800-475-2265 ext. 8247.

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:WASH).

CONTACT: Anthony Nunes Marketing Department 401.348.1657 ajnunes@washtrust.com

Source:Washington Trust Bancorp, Inc.

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