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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: April 27, 2012

Washington Trust Provides $10 Million for New York Hotel

Bank Finances Marriott Property on Long Island


Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided a $10.35 million commercial mortgage to an affiliate of MCR Development LLC for the financing of the SpringHill Suites by Marriott Long Island Brookhaven, a 128 room hotel located at 2 Sawgrass Drive in Brookhaven, N.Y.

“The hotel is ideally situated near several large business parks as well as major research and educational institutions. Its location, Marriott branding, and strong management team, have contributed to the hotel’s success,” 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 mortgage banking, commercial banking, small business banking, personal banking, and wealth management and trust services to individuals and institutions through its offices located in Rhode Island, Connecticut and Massachusetts. Our Mortgage Lending area offers a full-range of mortgage solutions, including reverse mortgages and home equity loans and lines to help borrowers through all stages of life. 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). Web site address: www.washtrust.com.

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