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Washington Trust Provides $8.6 Million in Financing for Class-A, Multi-Tenant Office Building in Danbury, CT

WESTERLY, R.I., Dec. 18, 2014 (GLOBE NEWSWIRE) -- Washington Trust's Commercial Real Estate Group recently provided $8.6 million to Ridgebury Office Investment, LLC, for the refinancing of a Class-A, low-rise office property in Fairfield County, Connecticut. The property, located at 44 Old Ridgebury Road in Danbury, is within easy access to Interstate-84 and Highway 6, in close proximity to Danbury Municipal Airport.

Sitting on an 8-acre property, the four-story complex consists of 126,107 square-feet of office space, including 12 separate tenant spaces, a newly redesigned lobby and a landscaped outdoor seating plaza. The building is rated a Class-A business setting, the most prestigious rating for an office structure, based on premier standards of quality, state of the art systems, exceptional accessibility and strong market presence.

"With its close proximity to New York, Fairfield County is an attractive destination for businesses to centralize their headquarters and regional offices," said Joseph J. MarcAurele, Washington Trust Chairman and Chief Executive Officer. "The office building in Danbury provides an excellent opportunity for further growth in the regions rich business economy."

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