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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: December 3, 2012
FOR IMMEDIATE RELEASE

Washington Trust Provides $2.3 Million in CRE Financing

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided $2,345,000 in commercial mortgage financing to Kleban Newington, LLC for the purchase of a 10,478 square foot retail plaza which includes two restaurants, located at 3260 Berlin Turnpike in Newington, Connecticut.

The sponsor, Kleban Properties, is a family-owned value added real estate developer that owns and operates professional and retail properties in town centers across the state of Connecticut and in several locations on the East Coast. The fourth generation family-owned business owns and operates nearly 1 million square feet of commercial space and has the largest taxable holdings in Fairfield, Connecticut.

“This property is well located with excellent frontage on a highly-trafficked retail corridor,” said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer. “We are pleased to provide financing to Kleban Newington.”

Washington Trust's Commercial Real Estate Group 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 Bethany Lyons, Vice President, Commercial Real Estate Group, 401-348-1538 or 1-800-475-2265 ext. 1538

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