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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: December 18, 2012

Washington Trust Finances $3.75 Million CT Industrial Properties

Washington Trust’s Commercial Real Estate Group recently provided $3,750,000 in financing to Herbert T. Clark, III for a revolving line of credit to fund construction projects, capital improvements and other real estate working capital needs for the Clark Group. Financing will be secured by three industrial properties totaling in excess of 100,000 square feet, located in Essex and Clinton, Connecticut.

“These well-located industrial properties have historically exhibited strong occupancy levels in the past several years and are collectively occupied at 97% with 9 tenants,” 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.

Headquartered in Essex, Connecticut, the Clark Group is family owned and operated real estate group specializing in industrial and commercial properties located in Southern Connecticut. The Clark Group has provided property management, construction management, site location, building design and other services since 1965.

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