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Washington Trust Provides $3.36 Million in Financing for Retail Center in Windsor, CT

WESTERLY, R.I., July 13, 2016 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $3.36 million to 555 Day Hill, LLC, for the refinancing of a retail center in Windsor, Connecticut. Constructed in 1989, the property consists of a 6.69-acre parcel improved with a 34,084 square-foot, single-story community retail building. The Center is anchored by Educational Playcare, Ltd., a successful daycare center which operates eight locations throughout Connecticut.

“The position of this retail center is a prime location for the area,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The current owners have owned the center for more than 20 years and have continually upgraded and maintained it throughout the years. We were pleased to be able to provide a financing package that worked well for them.”

“We are very pleased to have developed this new relationship with Washington Trust,” said the owners of 555 Day Hill, LLC. “Washington Trust was very responsive and proactive during the entire refinancing process. That responsiveness has continued throughout the monthly servicing of the loan.”

555 Day Hill, LLC is a CT limited liability company.

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 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