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Washington Trust Provides $3.4 Million in Financing for Walgreens Pharmacy in Monroe, CT

WESTERLY, R.I., Jan. 9, 2015 (GLOBE NEWSWIRE) -- Washington Trust's Commercial Real Estate Group recently provided $3.4 million to 275 Monroe, LLC, for the refinancing of a Walgreens drugstore located at 275 Monroe Turnpike in Monroe, CT. The 2-acre property sits on a corner lot with excellent visibility from Rt. 111, one of two major thoroughfares that traverse the Town of Monroe. The building provides customers with 14,560 square-feet of retail space including a pharmacy drive through window. The property is located in Fairfield County, within easy access from Interstate-95 and the Merritt Parkway. Walgreens is the largest drugstore chain in the U.S.

"Monroe is one of Connecticut's most desirable suburbs, with a strong retail presence from which Walgreens can benefit," 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 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:WASH).

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

Source:The Washington Trust Company