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Washington Trust Provides $11.5 Million in Financing for Medical Office Park in East Greenwich, RI

WESTERLY, R.I., July 21, 2015 (GLOBE NEWSWIRE) -- Washington Trust's Commercial Real Estate Group recently provided $11.5 million to Valley Place Office Park for the refinancing of a 126,000 square-foot office space on South County Trail in East Greenwich, RI. Valley Place Office Park includes four separate buildings primarily leased for use as medical office space.

"We were pleased to help refinance Valley Place Office Park," said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust's Commercial Real Estate Group. "It is a well-diversified property as indicated by its tenancy being both medical as well as traditional offices. Its strong location and versatile floor plates suit the property well for an ever changing tenant mix."

Valley Place Office Park was developed and is managed by FH French Real Estate, a property development company specializing in investment opportunities throughout southern New England.

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 A. 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 the oldest community bank in the nation and one of the Northeast's premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage 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.

CONTACT: MEDIA CONTACT: Tony Nunes Public Relations 401.348.1657 ajnunes@washtrust.com

Source:The Washington Trust Company