WESTERLY, R.I., June 5, 2015 (GLOBE NEWSWIRE) -- Washington Trust's Commercial Real Estate Group recently provided $2.87 million to the Marsilio Group for the refinancing of a multi-tenant industrial property in Hazle Township, Pennsylvania. The 8-acre property includes a single-story, 65,593 square-foot multi-tenant industrial flex building with attached parking for 234 vehicles.
Pennsylvania Power & Light Corporation, an energy and utility holding company, currently occupy the largest share of the property. The 8-acre location is set within the Humboldt Industrial Park, the largest industrial park in the Hazle Township area. Humboldt Industrial Park is populated by businesses representing more than fifty industries spread across 3,000 acres.
"Washington Trust was excited to expand our existing relationship with Mr. Marsilio with this strategically located and well tenanted asset," said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust's Commercial Real Estate Group.
The Marsilio Group is a Westport, CT based real estate management company owned and operated by Ronald S. Marsilio.
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 Suzanne Walsh Erno, Vice President, Commercial Real Estate Group, at 401-348-1492 or 800-475-2265 ext. 1492.
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Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, small business banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (Nasdaq:WASH). Additional information on Washington Trust and its subsidiaries can be found at www.washtrust.com.
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Source:The Washington Trust Company