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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: December 17, 2012

Washington Trust Finances $1.5 Million Apartment Complex in Connecticut

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group provided $1,548,000 in commercial mortgage financing to George C. Field. Co. for improvements on a 31- unit apartment complex located on a 5.6 acre parcel at 1 Cohasset Lane in Madison, Connecticut. The financing package includes both a revolving line of credit to fund the construction project and capital improvements for renovations for the complex, which is located in New Haven County, Connecticut.

“This property is located on the fringe of downtown Madison, an affluent, shoreline community located on Interstate 95, less than a quarter-mile from the train station,” said Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer.

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 Timothy M. Pickering, Senior Vice President, Commercial Real Estate Group, toll-free at 1-800-475-2265 ext. 1482 or directly at 401-348-1482.

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