CONTACT: Charlene P. Ferranti Davenport, Public Relations Officer, 401-348-1363
DATE: October 23, 2008
Washington Trust Provides Financing for Billchelm Realty, LLC
October 23, 2008 (Westerly, RI). . .'The Washington Trust Company's Commercial Real Estate Group recently provided $12 million in financing to Billchelm Realty, LLC and Billchelm Realty 70, LLC, for the acquisition of two office/ R & D buildings, totaling 143,000 square feet, in Boxborough, Mass.
Billchelm Realty, LLC and Billchelm Realty 70, LLC are managed by Atlantic Tambone Real Estate & Development of Lynnfield, Mass. Atlantic Tambone is a well known Massachusetts real estate development company, which has developed and managed an extensive portfolio in New England and Florida. Principals of Atlantic Tambone are Robert F. Tambone, president, and Anthony A. Tambone, executive vice president.
“This project will provide much desired high tech office space in the 495 North submarket,” said John C. Warren, Washington Trust chairman and CEO. “It's an attractive choice for companies who want to be in close proximity to Boston.”
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 $2.7 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 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.Corporation's common stock trades on The NASDAQ Stock Market under the symbol WASH. Web site address: www.washtrust.com.
