CONTACT: Charlene P. Davenport, Marketing, 401-348-1363
DATE: October 5, 2006
Washington Trust Provides Financing for Ithaca Suites, LLC
October 5, 2006 (Westerly, RI) . . .The Washington Trust Company Commercial Real Estate Group has partnered with Tompkins Trust Company of Ithaca, N.Y., to provide a construction loan to Ithaca Suites, LLC for the purpose of constructing a 91 room Homewood Suites by Hilton Hotel in Ithaca, N.Y.
Homewood Suites by Hilton® is a national brand of upscale all-suite residential-style hotels designed to make guests feel at home, by providing them with all the comforts, convenience and privacy of home for the price of a traditional hotel room.
“Washington Trust is pleased to partner with Tompkins Trust to accommodate Ithaca Suites, LLC with financing for the construction of their new hospitality property,” said John C. Warren, chairman and CEO of The Washington Trust Company.
Washington Trust's Commercial Real Estate Group provides commercial
real estate mortgages for construction of, refinancing of, or purchasing
investment real estate projects. Financing ranges in size from several
hundred thousand dollars up to multi-million dollar projects. For
more information, contact Julia Anne M. Slom, senior vice president,
Commercial Real Estate Group, toll-free at 800-475-2265 or 401-348-1430.
The Washington Trust Company is a subsidiary of Washington
Trust Bancorp, Inc., a $2.4 billion corporation headquartered in
Westerly, Rhode Island. Founded in 1800, Washington Trust is the
oldest community bank in the nation and is the largest independent
bank headquartered in Rhode Island. A state-chartered bank, Washington
Trust offers a full range of financial services, including personal
banking, business banking, and wealth management and trust services,
through its offices located in Rhode Island, southeastern Connecticut
and Massachusetts. The Corporation's common stock trades on The
NASDAQ® Stock Market under the symbol WASH. Web site address:
www.washtrust.com.
