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Washington Trust Provides $13 Million in Financing for the Construction of Inpatient Behavioral Health Center in Devens, MA

WESTERLY, R.I., June 14, 2016 (GLOBE NEWSWIRE) -- The Washington Trust Company recently provided $13 Million in commercial financing to Devens TRC, LLC, for the construction of a new inpatient behavioral health treatment center in Devens, MA.

Located on a 7.5-acre property at 85 Patton Road, within Devens’ Jackson Technology Park, the new facility will include a 78,000 square-foot, two-story behavioral hospital. The hospital will be home to the TaraVista Behavioral Health Center, a 108-bed psychiatric healthcare facility that will be managed by Devens Treatment & Recovery Center, LLC.

“We are pleased to partner with TaraVista Behavioral Health Center to help them build a new psychiatric healthcare facility in central Massachusetts,” said Robert R. Kent, Jr., Senior Vice President and Team Leader of Washington Trust’s Commercial Banking Group. “This new facility will provide additional behavioral health treatment capacity and make treatment more accessible and convenient for patients in the surrounding area.”

Washington Trust’s commercial banking group offers a full line of commercial, industrial and real estate lending and cash management services to leading companies, real estate developers, not-for-profits and municipalities throughout the Northeast. For more information, contact Robert R. Kent, Jr., Senior Vice President and Commercial Banking Team Leader, at 401-654-4855.

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.

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

Source:The Washington Trust Company