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Washington Trust Provides $4.2 Million in Financing for Retail Property in West Haven, CT

WESTERLY, R.I., July 27, 2016 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $4.2 million in financing to West Haven-LIR, LLC, for the redevelopment of a 10,504 square-foot retail property in West Haven, Connecticut. The property is located at 354 Saw Mill Road, directly off of Interstate-95 and a few miles west of New Haven’s central business district. Starbucks, Aspen Dental and Chipotle Mexican Grill currently occupy three of the properties four tenant spaces.

“We are very pleased to assist our existing client with this redevelopment project,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Their strong experience in both construction and tenant attraction and retention are integral to their success.”

West Haven-LIR, LLC is a CT limited liability company owned by Tartaglia Commercial Properties.

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