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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: January 4, 2012

Washington Trust Provides $8 Million in Financing to Connecticut Hotel

Bank Provides Commercial Mortgage for Hilton Garden Holtel in Milford

Hilton Garden

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided an $8,000,000 commercial mortgage to an affiliate of MCRS Milford Development, LLC for the financing of the Hilton Garden Inn, a 120 room hotel located at 291 Old Gate Lane in Milford, Conn.

“The hotel is ideally situated near the corporate headquarters of several multi-national companies, including Subway, BIC, United Technologies Corp., Sikorsky, and Schick, as well as several of Connecticut’s leading education and healthcare institutions. Its location, together with the Hilton Garden Inn brand, Hilton Honors loyalty program, and an effective management team, has led to a successful hotel operation.” 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).

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