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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: February 2, 2012

Washington Trust Provides $20 Million to Finance Massachusetts Office Park

Highwood Office Park

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided $20,000,000 in commercial financing to Highwood Investors, LLC, an affiliate of BPG Properties, Ltd. for the refinancing of the Highwood Office Park, a 278,000 square-foot, multi-tenanted, three building office center located at 50, 55 and 60 Highwood Drive in Tewksbury, Mass. The office center has earned the reputation as one of the top-tier parks in the northern I-495 office market.

BPG Properties, Ltd. is a private equity real estate fund manager with a proven track record in acquisition, development and investment management of all major property types throughout the United States. Since the borrower acquired the property, an extensive leasing program was implemented and several capital improvements were completed, including renovations and the addition of on-site amenities including a cafeteria and a fitness center.

“Washington Trust was able to structure a financing that allowed for the flexibility needed to compliment BPG Properties’ continued leasing strategy,” said Joseph J. MarcAurele, Chairman, President, and Chief Executive Officer of Washington Trust.

Julia Anne Slom, Washington Trust Senior Vice President/Team Leader, and Bethany Lyons, Washington Trust Vice President, served as lead lenders 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 Northeast 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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