(800) 475-2265
Washington Trust Newsroom
Washington Trust’s Commercial Real Estate Group recently provided $15.4 million in financing to Clark Commercial Center, LLC for the acquisition of a 13-property portfolio located in Clark, NJ. An additional $3.15 million in construction financing has also been reserved for capital and tenant improvements to the properties.
Westerly, RI – Washington Trust’s Commercial Real Estate Group recently provided $15.4 million in financing to Clark Commercial Center, LLC for the acquisition of a 13-property portfolio located in Clark, NJ. An additional $3.15 million in construction financing has also been reserved for capital and tenant improvements to the properties.
Located in Clark, a New Jersey suburb 20 miles southwest of Manhattan and 13 miles southwest of Newark, each of the 13 properties sit in close proximity to one another on Central, Terminal and Westfield Avenues. The portfolio consists primarily of industrial flex space, comprising 8 of the properties, with 2 retail properties, 2 single-family residences and a vacant lot also included. In total, the portfolio includes approximately 283,000 square-feet of space. Four of the properties are currently leased to L’Oreal Products.
“Our clients have assembled a unique portfolio with a diverse tenant base in the well located town of Clark,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We are pleased to finance this first transaction with them and hope to expand our relationship within their footprint.”
Clark Commercial Center, LLC is owned by The Denholtz Group, who serve as managing partner, and MB1 Capital Partners, a private real estate investment company based in Belmar, NJ.
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.
ABOUT WASHINGTON TRUST® Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ OMX®: WASH). Additional information on Washington Trust and its subsidiaries can be found at www.washtrust.com.
Westerly, RI - Washington Trust’s Commercial Real Estate Group recently provided $22.5 million in financing to Chapel Business Partners, LLC, and SDC Watertown Partners, LLC, for the refinancing of an office and flex portfolio in Newton, Massachusetts. The portfolio is comprised on a 78,187 square-foot office building at 59-85 Chapel Street, a 32,000 square-foot flex/office building at 85 School Street and an 11,300 square-foot flex/office building at 165 Dexter Street.
“We are pleased to have provided financing on these properties, which have benefited greatly since our borrower’s acquisition from both new property enhancements as well as the resurgence and resulting growth of the surrounding area,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
The sponsor, KS Partners, is a real estate development and management firm located in Woburn, MA with over four million square feet of commercial property throughout New England.
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 Bethany Lyons, Vice President, Commercial Real Estate Group, at 401-401-1538 or 1-800-475-2265 ext. 1538.
ABOUT WASHINGTON TRUST® Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at www.washtrust.com.
New Haven, CT – Washington Trust’s Commercial Real Estate Group recently provided $9.8 million in financing to Route 34 Phase I, LLC, for the refinancing of a recently constructed Rite Aid Pharmacy and the completion of a 10,000 square-foot retail building in downtown New Haven, Connecticut.
Located on Legion Avenue/Martin Luther King Boulevard (Rt. 34), the property benefits from being on a busy thoroughfare just two blocks from Yale New Haven Hospital in downtown New Haven. The Rite Aid Pharmacy building is comprised of 14,578 square feet of space and was completed in 2016. The new building being constructed on the property will be home to The Learning Experience, one of the nation’s largest for-profit providers of childcare and early childhood development services.
“This was a great opportunity to expand our relationship with Leyland Alliance,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The tenancy will fill a strong demand in the New Haven market, and we are excited to be a part of it.”
“Washington Trust has been a creative and supportive financing partner for LeylandAlliance through multiple projects,” said Howard Kaufman of LeylandAlliance. “We value our relationship and look forward to working on more new projects in the future.”
Route 34 Phase I, LLC is a single asset limited liability company of LeylandAlliance, a New York mixed-use developer with retail and office projects in New York, Connecticut, and North Carolina.
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 Pickering, Senior Vice President, Commercial Real Estate Group, at 401-348-1482 or 1-800-475-2265 ext. 1482.
ABOUT WASHINGTON TRUST Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.
Westerly, RI - Washington Trust’s Commercial Real Estate Group recently provided $3.5 million to South Windsor Realty Co., LLC, for the refinancing and tenant improvements of an eight-building, mixed use office and retail portfolio in South Windsor, Connecticut. Located on 453-497 Buckland Road, and 152 Deming Street in South Windsor, the buildings contain a combined total of 53,451 square-feet of rentable space on 12.37 acres. Within that space, 46,461 square-feet is mixed-use office space while the additional 6,990 square-feet is retail.
“We are pleased to have been able to offer a financing solution that worked well for this project located in the heart of South Windsor,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The office space at the center is an important location for many of the local service providers.”
South Windsor Realty Co., LLC is a limited liability company formed in 2002 for the purpose of acquiring the portfolio.
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, Connecticut Commercial Real Estate Group, at 401-348-1492 or 800-475-2265 ext. 1492.
Westerly, RI - Washington Trust’s Commercial Real Estate Group recently provided $1.075 million in financing to H&A Kaufman Realty, LLC, for the acquisition of a 7,225 square-foot retail property in Leominster, MA.
Construction on the property, located along Route 12, at 780 Central Street in Leominster, was completed in early 2016 to accommodate its sole tenant; O’Reilly Auto Parts. O’Reilly Auto Parts was founded in 1957 by the O’Reilly family and is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional service provider markets.
“The Kaufman family have been long term clients for our company and we are pleased to be able to expand our relationship further with the financing of this well placed retail asset,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Their experience in locating, tenanting and maintaining quality assets is the reason they are successful and we are happy to have provided a financing package that met their needs.”
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 Laurel L. Bowerman, Vice President, Commercial Real Estate Group, at 401-654-4847 or 800-475-2265 ext. 8247.
Westerly, RI – Washington Trust's Commercial Real Estate Group recently provided $3.15 million to the Marsilio Group for the refinancing and tenant improvements of a two-property, multi-tenant industrial portfolio in Stratford, Connecticut.
Both properties are located on Lordship Boulevard in Stratford. The first property sits on 1.56-acres and consists of a 28,353 square-foot office/warehouse building. The building is comprised of four separate tenant spaces, including three warehouse units occupied by FedEx, Rexel, Inc. and All My Sons Moving & Storage, and an office space occupied by the American Institute for Healthcare and Technology. The second property sits on 2.28-acres and consists of 32,000 square-feet of office and warehouse space fully leased to FedEx.
"We are pleased to expand our relationship with Mr. Marsilio, refinancing this well positioned property which has strong access to route 95 and appeal to service oriented tenants," said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
The Marsilio Group is a Westport, CT based real estate management company owned and operated by Ronald S. Marsilio.
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.
Westerly, RI – Washington Trust’s Commercial Real Estate Group recently provided $8 million to Armstrong Shelton Properties, LLC, for the acquisition and tenant improvements of a 151,000 square-foot office complex in Shelton, Connecticut.
The property is comprised of two separate class-A office buildings anchored by LifeCare, Inc., a Shelton based provider of employer-sponsored work-life benefits. Both buildings feature spacious lobby areas with open atriums, terrazzo flooring and ample parking. Located at 2 & 4 Armstrong Road in Shelton, a few minutes drive from the Merritt Parkway, the property sits on a pond side, wooded campus with onsite jogging trails and a picnic area.
“Rugby has a strong track record of refreshing and updating office properties and implementing strong leasing strategies,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “This financing was an opportunity to expand our relationship with a strong client in a market that they know well.”
Armstrong Shelton Properties, LLC is a single asset holding company of Rugby Realty. Rugby Realty engages in the purchase, development, and management of real estate holdings and owns and operates 8 million square feet of commercial real estate in New York, New Jersey, Connecticut, Florida, Georgia and Pennsylvania. The company is based in New Rochelle, New York.
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 R. Fusco, Vice President, Commercial Lending, at 401-348-1681 or 800-475-2265 ext. 1681.
« Back
Media Inquiries Contact Elizabeth B. Eckel, SVP Marketing 23 Broad Street Westerly, RI 02891 (401) 348-1309
Send email
Phone: (800) 475-2265
Email: info@washtrust.com
Branch Locations
Routing Number: 011500858
Contact Us
Meet Our Team