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Washington Trust Finances Renovation of Boutique Office Building in Fairfield County, CT

WESTERLY, R.I., Feb. 19, 2015 (GLOBE NEWSWIRE) -- Washington Trust's Commercial Real Estate Group recently provided financing to SG Pequot 200, LLC for the renovation and tenant fit out of a boutique office building in Southport, CT. Southport is one of the most affluent communities in Connecticut's desirable Fairfield County.

The property's "Main Street" location in suburban Southport along with its close proximity to the Metro North railroad station, both offer attractive options to potential business and wealth managers looking for office space in Fairfield County. The borrowers were able to substantially lease the space within months of it being vacated, repositioning the 12,700 square-foot office building into an attractive option for tenants in the financial industry. Renovations to the property have included improvements to common areas, new windows, landscaping and more.

"With its proximity and metro connection into New York, the Southport property offers an ideal location for business and finance professionals to setup offices within Fairfield County," 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 Bethany Lyons, Vice President, Commercial Real Estate Group, at 401-348-1538 or 800-475-2265 ext. 1538.

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