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Washington Trust Provides $3.9 in Financing to Taymil Ivy Manor, LLC

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided $3.9 million in financing to Taymil Ivy Manor, LLC, for refinancing and capital improvements to Manchester Green Apartment Homes in Manchester, Conn., which features four two-story buildings housing 72 multi-family rental units.

“The fact that this apartment complex is located in a bedroom community-type neighborhood, yet convenient to several major interstates, makes it attractive to residents commuting to the city of Hartford,” said Joseph J. MarcAurele, Washington Trust Chairman, President and Chief Executive Officer.

Taymil Partners is a multi-family real estate investment and management company based in Framingham, Mass. Taymil currently owns and manages an approximate 1,800 unit apartment portfolio comprised of 20 properties in Massachusetts, Maine, New Hampshire and Connecticut. For more information, please go to www.taymilpartners.com.

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 Suzanne Walsh Erno, Vice President, Commercial Real Estate Group, at 401-348-1492 or 800-475-2265 ext. 1492.

Founded in 1800, Washington Trust is one of New England’s premier financial services companies, providing commercial banking, personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. 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).

MEDIA CONTACT: Elizabeth B. Eckel, Senior Vice President, Marketing
TELEPHONE: 401-348-1309
EMAIL: ebeckel@washtrust.com
DATE: February 24, 2014


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