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Washington Trust Provides Commercial Financing to the Waterford Group in Waterford, CT

WESTERLY, R.I., Dec. 10, 2014 (GLOBE NEWSWIRE) -- Washington Trust's Commercial Real Estate Group recently provided financing to 914 Realty, LLP, a holding company for the headquarters of the Waterford Group, a well-established hotelier and real estate developer in Waterford, CT. The property, located at 914 Hartford Turnpike in Waterford, is situated along Connecticut Route 85, between Interstates 95 and 395.

The nearly two-acre property consists of a two-story, 30,308 square-foot multi-tenant office building with covered parking. In addition to the Waterford Group, the building is also home to seven other tenants including various medical professionals and the Chamber of Commerce of Eastern Connecticut.

"With its excellent, convenient location near Waterford's retail center, the property provides a prime location for the Waterford Group and the building's other tenants," said Joseph J. MarcAurele, Washington Trust Chairman 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 Mary K. Ettinger, Vice President, Commercial Real Estate Group, at 401-348-1415 or 800-475-2265 ext. 1415.

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:The Washington Trust Company