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Washington Trust is actively lending to businesses throughout New England to help them seize opportunities and gain a competitive edge, as we have done for more than 210 years. Take advantage of our multi-million dollar commercial lending capabilities, local decision-making, and personalized service. For more information, call us at 401-348-1200 or 401-331-5090, or visit your local branch or click here to contact us.

Recent Financings

Commercial Real Estate
Commercial Lending

COMMERCIAL REAL ESTATE


$1.5 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $1.5 million in financing to Darien Hospitality Group, LLC for the refinancing of a ground lease on an over 5 acre parcel at 150-152 Ledge Road in Darien, CT currently leased to Whole Foods Market.

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$13 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $13 million in debt financing to an affiliate of MCR Development LLC for the financing of the 120 room Homewood Suites by Hilton Egg Harbor hotel located at 3008 English Creek Ave. in Egg Harbor Township, New Jersey.

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$4 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $4 million in financing to Seaboard Realty Corporation for the refinancing of a Walgreen’s Drug Store at 275 Broadway in Amityville, New York.

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$8.8 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $8.8 million in financing for the refinancing of University Medical Center, LLC located at 195 Collyer St. in Providence, R.I. and Collyer Rehabilitation Center, LLC located at 208 Collyer St. Both are medical office buildings primarily leased to Miriam Hospital.

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$4.8 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $4.8 million in financing to Lakeview Center Associates, LLC and Branford Equities, LLC for the refinancing of Lakeview Center, a 69,955 square foot shopping center located at 249-251 West Main Street, Branford, Conn., consisting of four single-story buildings leased by 16 tenants.

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$3.9 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $3.9 million in financing to Taymil Ivy Manor, LLC, for refinancing and capital improvements to Manchester Green Apartment Homes in Manchester, Conn., which features four two-story buildings housing 72 multi-family rental units.

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$6.45 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $6.45 million in financing to Civic Center Parking Associates LLC for Civic Center Parking, a 438-space, five-story parking garage, and its two adjacent 39-space parking lots. Civic Center Parking is located at 165-191 Washington Street, Providence, RI, adjacent to Trinity Repertory Company and is directly across from Hasbro’s new office building. The two parking lots are located at 143 Washington Street and 132 Fountain Street in Providence, RI.

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$7.2 MILLION

Washington Trust's Commercial Real Estate Group recently provided $7.2 million in financing to Linear Retail Smithfield, LLC for tenant improvements to Smithfield Commons, a 35,130 square foot shopping center located at 400 Putnam Pike in Smithfield, RI. Over the past several years the building has been renovated to provide space to new tenants such as Starbucks and Sienna Restaurant. Other major tenants include: Papa Gino’s, Concentra, Verizon, Sprint, H&R Block, UPS, and Sovereign Bank.

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$10.5 MILLION

Washington Trust's Commercial Real Estate Group recently provided $10.5 million in commercial real estate financing to 180 Westport Partners, LLC for the acquisition and renovation of a mixed-used property in Westport, CT. The 32,103 square foot office-retail space is located in Westport’s downtown retail corridor at 180 Post Road, just one block from the town’s Main Street.

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$2.6 MILLION

Washington Trust's Commercial Real Estate Group recently provided $2.6 million in financing to 1086 North Colony, LLC for a two-suite retail center in Wallingford, CT. The 1.13 acre property consists of a 7,500 square foot, multi-tenant convenience/retail center, which is scheduled for completion in early 2014. Pre-leased retail tenants include Verizon Wireless and DiBella’s Old-Fashioned Submarine, Inc.

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$1.72 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $5,250,000 million in financing to Residences at Garden City, LLC for the purchase of Garden City Apartments, a garden-style apartment complex in Cranston, RI. The complex, which maintains an on site rental office, consists of seven two-story buildings with 56 one-bedroom apartments and 38 two-bedroom units across 5.16 acres of land.

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$5 MILLION

Washington Trust's Commercial Real Estate Group recently provided $5,000,000 in construction financing to Scandinavian Home, Inc. for a 2,000 square feet addition to an assisted living facility in Cranston, RI as well as renovations to existing facilities. Founded in 1930, Scandinavian Home is a non-profit community located in the Edgewood section of Cranston, Rhode Island. The facility offers Assisted Living Community and a Skilled Nursing & Rehabilitation Center.

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$6.9 MILLION

Washington Trust's Commercial Real Estate Group recently provided $6.9 million in construction financing to Storrs Center Alliance, LLC for the construction of a 32,175 square foot Price Chopper Supermarket and a 5,000 square foot stand-alone retail building in Mansfield, CT. The property is located in downtown Mansfield, across from the University of Connecticut and is the latest phase of the successful Storrs Center project being developed by LeylandAlliance, LLC.

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$1.72 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $1.27 million in refinancing to New Milford Main Investment, LLC for an 11,108 square foot retail building on 173 Danbury Road in New Milford, CT. The building is currently leased entirely to Rite Aid Pharmacy.

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$4.3 MILLION

Washington Trust's Commercial Real Estate Group recently provided $4.3 million in acquisition financing to Metro 100, LLC for a mixed use property in Milford, CT. The property, located at 100-102 Lansdale Avenue, contains 23 apartment units and 20,808 square feet of retail space. The Sponsors, Metro Star Properties of Milford, CT, plan to make significant enhancements to the property.

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$6.5 MILLION

Washington Trust's Commercial Real Estate Group recently provided a $6.5 million loan to Timberlake Holdings Company, LLC for the refinancing of undeveloped land with approvals for 385-units at Oxford Greens, an 803-acre master planned active adult community located in Oxford, CT.

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$1.96 MILLION

Washington Trust's Commercial Real Estate Group recently provided $1.96 million in construction financing to Narragansett Highland Developers LLC for the development of a 16-unit, 8 duplex condominium project situated in a private cul-de-sac on Boston Neck Road, Narragansett, RI.

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$4 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $4 million in refinancing for 327 Main Avenue, a 92,592 square foot mixed-use property in Norwalk, CT. The property currently has eight tenants and is anchored by a CVS Pharmacy.

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$6.94 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $6,940,000 in commercial mortgage financing to affiliates of F.H. French Company to refinance approximately 100,000 square feet of office space on Blackstone Valley Place, in Lincoln, RI. “The F.H. French Company is known for delivering quality products to the Rhode Island real estate market. We are pleased to expand the Bank’s relationship with this customer,” said Joseph J. MarcAurele, Washington Trust Chairman, President and Chief Executive Officer.

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$9.2 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $9.2 million in financing to MCP Medical, LLC, an affiliate of Marcus Partners, for the acquisition of a 70,000 square foot medical office in Norwalk, CT.

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$1.725 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $1,725,000 in commercial mortgage financing to EP Apartments, LLC for the acquisition of 42 units at East Pointe Condominiums, a 64-unit condominium complex located in Waterbury, Connecticut.

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$4.5 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $4,500,000 in commercial mortgage financing to Blackstone Place Limited Partnership for the acquisition of Blackstone Place, a 38,000 square foot retail building located at 727 East Avenue, Pawtucket, R.I. The retail space is currently occupied by Rite Aid, Hillside Avenue Family & Community Medicine, and Dunkin Donuts.

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$6.2 MILLION

Washington Trust’s Commercial Real Estate Group is pleased to announce it recently provided $6.2 million in financing to Union Station Parking LLC to assist the Marsella family in acquiring sole ownership of all parking operations at Union Station Plaza located within the Capital Center district of downtown Providence. The loan provided funds for the refinancing of a 160-space parking lot located at 150 Memorial Boulevard which is the major thoroughfare into downtown Providence. The 1.17 acre lot, adjacent to the Marsella family’s Union Station Garage, is nearby a number of restaurants in downtown Providence, including the Capital Grille, RiRa Irish Pub, Bar Louis, and Luxe Burger.

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$4.2 MILLION

Washington Trust’s Commercial Real Estate Group recently provided a $4.2 million commercial mortgage to Parkingway Acquisitions, LLC for the purchase of a multi-use property located at 150-152 Parkingway/ 31 Hancock Court in Quincy, Massachusetts. The two-building property sits on 55,265 square feel of land and consists of 57,995 square feet of retail and office space and 119 parking spaces "This property is ideally situated on the newly-constructed Walter Hannon Parkway, just across the street from a planned $1.6 billion revitalization of historic downtown Quincy,” said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer.

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$2.9 MILLION

Washington Trust’s Commercial Real Estate Group recently provided a $2.9 million commercial real estate mortgage to 80 Mason Street, LLC for the purchase of a 6,324 square foot office building at 80 Mason Street in Greenwich, Connecticut. The building is located in Greenwich’s central business district, a premier commercial corridor with numerous high-end national retailers, boutiques, restaurants, office space and prestigious residential locations.

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$10.5 MILLION

Washington Trust’s Commercial Real Estate Group recently provided a $10.5 million commercial mortgage to 100 Great Meadow Associates, LLC for the refinancing and improvements of Putnam Park Office Center, a 155,645 square foot multi-tenant office building located at 100 Great Meadow Road in Wethersfield, Connecticut.

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$10 MILLION

Washington Trust’s Commercial Real Estate Group recently provided a $10.35 million commercial mortgage to an affiliate of MCR Development LLC for the financing of the SpringHill Suites by Marriott Long Island Brookhaven, a 128 room hotel located at 2 Sawgrass Drive in Brookhaven, N.Y.

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$8.3 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $8,337,588 in financing to Medical Asset Ventures, LLC for the construction of a 45,000 square foot Lifespan medical office building conveniently located on South County Trail in East Greenwich, R.I. The office space will be used for a variety of practice types including primary and cardiac care.

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$8 MILLION

Washington Trust’s Commercial Real Estate Group recently provided an $8,000,000 commercial mortgage to an affiliate of MCRS Milford Development, LLC for the financing of the Hilton Garden Inn, a 120 room hotel located at 291 Old Gate Lane in Milford, Conn.

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$5.2 MILLION

Washington Trust’s Commercial Real Estate Group recently provided a $5.2 million commercial mortgage to Mill Meadow Development, LLC for the refinancing of 6 buildings located in a business park at 2, 4 and 6 Business Park Road, 5 and 20 Research Parkway and 151 Mill Rock Road East in Old Saybrook, Conn.

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$4.8 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $4,800,000 in commercial mortgage financing to Emanon Associates, L.P. to refinance and provide capital and tenant improvement funds for The Gardner Building located at 40 Fountain Street in Providence, R.I.

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$4.6 MILLION

Washington Trust’s Commercial Real Estate Group recently provided $4,600,000 in commercial mortgage financing to Taurus CD 153 Batterymarch Street Limited Partnership to refinance a six story, 34,521 square foot office building located at 22 Batterymarch Street in Boston, Mass.

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$1.9 MILLION

Washington Trust’s Commercial Real Estate Group recently provided a commercial construction financing package in the amount of $1,946,000 to 138 Development Associates, LLC for the development of Brandywyne, a 40-unit active adult residential community, situated on 23.32 acres located off Mooresfield Road in South Kingstown, R.I.

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$1.6 MILLION

Washington Trust's Commercial Real Estate Group recently provided a $1,625,000 commercial mortgage to Fox Point Marina, LLC for the refinancing of a mixed use property, which includes two restaurant units and a 56 boat slip marina, located at 515-525 South Water Street in Providence, R.I.

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$1.5 MILLION

Washington Trust’s Commercial Real Estate Group recently provided a $1.5 million dollar commercial mortgage to Phoenix New Park Avenue, LLC for the acquisition of a retail property currently occupied by Advanced Auto Parts property located at 443 New Park Avenue in West Hartford, Conn.

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COMMERCIAL LENDING

$21 million

as lead senior lender in an asset-based revolver for a Rhode Island-based telecommunications company

$15 million

in senior secured working capital, equipment, and mortgage financing for the acquisition of a Connecticut-based manufacturing company

$12 million

to construct a partially owner-occupied 200,000 square foot manufacturing flex-space building and provide working capital to three related manufacturers in Rhode Island and Connecticut

$8.2 million

in mini-perm mortgage financing for a New England/New York regional retailer

$8 million

for the redevelopment of an office building located in Warwick, Rhode Island

$7 million

in financing to facilitate the management-led buyout of a local restaurant

$6.8 million

term and revolver financing for a Rhode Island/Massachusetts fuel oil distributor

$4.5 million

revolver financing for a New England emergency vehicle dealer

$4 million

in financing for the construction of a 40,000 square foot owner-occupied manufacturing building and working capital financing for a Rhode Island-based manufacturer with international needs

$1.8 million

revolver financing for a Rhode Island fuel oil distributor 

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April 20, 2014
12:30 a.m. until 4:30 a.m.

Due to system maintenance, Online Banking and Mobile Banking will be unavailable on Sunday, April 20 from 12:30 a.m. until 4:30 a.m.