Washington Trust Finances $1.9 Commercial Property in Connecticut

Westerly, Rhode Island... Washington Trust's Commercial Real Estate Group recently provided a $1,972,600 commercial mortgage to 889 Bridgeport Properties, LLC, a separately owned affiliated entity of Rugby Realty Co., Inc., for the acquisition of a 55,582 square foot; two-story commercial office building situated on over 8 acres of land, located at 889 Bridgeport Avenue in Shelton, Conn. Rugby Realty, the co-developer of the Fairfield Metro Center, a one million square foot mixed use development located at the new train station in the town of Fairfield, says they already have several tenants interested in leasing space at the building.

"We are pleased to finance the properties for 889 Bridgeport Properties, LLC and wish them the best of luck with leasing the space," said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer.

Cate Fusco, Washington Trust Vice President, served as lead lender for the project as part of Washington Trust's Commercial Real Estate Group, which provides commercial real estate mortgages for the construction, refinancing, or purchasing of 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 x1430 or directly at 401-348-1430.

Founded in 1800, Washington Trust is one of New England's premier financial services companies, providing commercial banking, personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).