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Washington Trust Finances Walgreen's Drug Store in Amityville, New York

Westerly, Rhode Island... Washington Trust’s Commercial Real Estate Group recently provided $4 million in financing to Seaboard Realty Corporation for the refinancing of a Walgreen’s Drug Store at 275 Broadway in Amityville, New York.

The Walgreen’s Company is the largest United States branded drugstore chain and is ranked #37 on Fortune’s 500 list of the largest U.S. companies. The Walgreen’s Drug Store at 275 Broadway in Amityville is a single-tenant property. It is situated on a corner lot with maximized visibility on a heavily trafficked road between the two primary east/west routes serving the south shore of Long Island. The Seaboard Realty Corporation acquired the property in 2001.

“Being well-situated in such a densely populated commercial area within residential surroundings, the Amityville location offers prime visibility for a respected brand like Walgreen’s” said Joseph J. MarcAurele, Washington Trust Chairman 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, at 401-348-1482 or 800-475-2265 ext. 1482.

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: March 18, 2014

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