CONTACT: Charlene P. Davenport, Marketing, 401-348-1363
DATE: August 22, 2007
Washington Trust Provides Financing For SSG Development, LLC
August 22, 2007 (Westerly, RI). . . The Washington Trust Company’s Commercial Real Estate Group is providing $12 million in financing to SSG Development, LLC, to construct an 114,768 square foot, climate controlled, self storage facility adjacent to the Massachusetts Turnpike in Brighton, Mass. The state-of-the-art, class A, self storage facility will contain 986 units.
SSG Development, LLC is a real estate investment and property development company based in Brookline, Mass. The company develops, builds and owns, state-of-the-art, multi-story, climate-controlled, self-storage facilities with sites in various stages of development along the East Coast, from New England to Florida.
“Washington Trust is happy to provide financing to SSG Development, LLC for their new facility in Brighton, Mass.,” said John C. Warren, chairman and CEO of The Washington Trust Company. “We wish them much success with this project.”
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 largest independent bank and the oldest community bank in the nation, headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including business banking, personal 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.
