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MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: June 18, 2013
FOR IMMEDIATE RELEASE

Washington Trust Finances $1.96 Million RI Condominium Development

16-Unit, 8 Duplex Project Located In Narragansett, RI

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided $1.96 million in construction financing to Narragansett Highland Developers LLC for the development of a 16-unit, 8 duplex condominium project situated in a private cul-de-sac on Boston Neck Road, Narragansett, RI.

“The project offers a nice location, attractive pricing and numerous floor plans that should appeal to home buyers,” said Joseph J. MarcAurele, Washington Trust Chairman, President and CEO.

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 Catherine Fusco, Vice President, Commercial Lending, 401-348-1681 or 1-800-475-2264 ext. 1681.

The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc. (NASDAQ Global Select, symbol: WASH).

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