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Washington Trust Provides $1.075 Million in Financing for Acquisition of Retail Property in Leominster, MA

WESTERLY, R.I., Aug. 10, 2016 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $1.075 million in financing to H&A Kaufman Realty, LLC, for the acquisition of a 7,225 square-foot retail property in Leominster, MA.

Construction on the property, located along Route 12, at 780 Central Street in Leominster, was completed in early 2016 to accommodate its sole tenant; O’Reilly Auto Parts. O’Reilly Auto Parts was founded in 1957 by the O’Reilly family and is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional service provider markets.

“The Kaufman family have been long term clients for our company and we are pleased to be able to expand our relationship further with the financing of this well placed retail asset,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Their experience in locating, tenanting and maintaining quality assets is the reason they are successful and we are happy to have provided a financing package that met their needs.”

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 Laurel L. Bowerman, Vice President, Commercial Real Estate Group, at 401-654-4847 or 800-475-2265 ext. 8247.

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 https://www.washtrust.com/.

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

Source:The Washington Trust Company