CONTACT: Elizabeth Eckel, SVP Marketing, 401-348-1309
DATE: August 10, 2005
Washington Trust Provides $6.2 Million in Financing for Circle Ventures, LLC
Westerly, Rhode Island... The Washington Trust Company's commercial real estate group provided $6,205,000 in commercial real estate financing to Circle Ventures, LLC of Boston, Mass., for a newly constructed building leased to CVS.The 9,775 square foot building was constructed at 1927 Beacon Street in Boston, Mass. CVS had previously operated a store directly across the street from the new building for 30 years. The square footage of old store was 6,500 square feet. Additional mezzanine storage space and a larger amount of parking spaces were added to the new store.
"Washington Trust was pleased to help Circle Ventures with
financing for this building," said John C. Warren, chairman
and CEO of The Washington Trust Company. "He is a valued customer
and we wish him much success with his business."
The Washington Trust Company is the largest independent bank headquartered
in Rhode Island. A state-chartered bank, Washington Trust offers
a full range of financial services, including trust and investment
management, through its 16 branch offices located in Rhode Island
and southeastern Connecticut. Founded in 1800, the Bank is a subsidiary
of Washington Trust Bancorp, Inc., whose common stock trades on
The NASDAQ Stock Market® under the symbol WASH. Web site address:
www.washtrust.com.
