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Washington Trust’s Commercial Real Estate Group recently provided $5.8 million to Linear Retail Properties, LLC, for the financing of Blackstone Place, a retail center located at 727 East Avenue in Pawtucket, RI.
Westerly, RI – Washington Trust’s Commercial Real Estate Group recently provided $5.8 million to Linear Retail Properties, LLC, for the financing of Blackstone Place, a retail center located at 727 East Avenue in Pawtucket, RI.
Originally built in 1963, Blackstone Place is comprised of two buildings with ten retail spaces totaling 37,470 square-feet of space. The shopping center is fully leased, anchored by Rite Aid, with additional tenants including Hillside Family Medical, Dunkin’ Donuts and others. Blackstone Place is set in one of Pawtucket’s main retail corridors, located 2.5 miles north of downtown Providence.
“This extremely vibrant neighborhood plaza fits well with Linear Retail’s acquisition strategy and we are happy to expand our relationship assisting with this purchase,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The tenant mix of restaurants, necessity retail and convenience result in a well trafficked destination for the neighborhood.”
Burlington, MA based Linear Retail Properties is a leading acquirer, owner, developer and operator of more than 80 retail properties throughout eastern MA, southern NH and Rhode Island.
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.
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 $3.36 million to 555 Day Hill, LLC, for the refinancing of a retail center in Windsor, Connecticut. Constructed in 1989, the property consists of a 6.69-acre parcel improved with a 34,084 square-foot, single-story community retail building. The Center is anchored by Educational Playcare, Ltd., a successful daycare center which operates eight locations throughout Connecticut.
“The position of this retail center is a prime location for the area,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The current owners have owned the center for more than 20 years and have continually upgraded and maintained it throughout the years. We were pleased to be able to provide a financing package that worked well for them.”
“We are very pleased to have developed this new relationship with Washington Trust,” said the owners of 555 Day Hill, LLC. “Washington Trust was very responsive and proactive during the entire refinancing process. That responsiveness has continued throughout the monthly servicing of the loan.”
555 Day Hill, LLC is a CT limited liability company.
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.
Westerly, RI - Washington Trust’s Commercial Real Estate Group recently provided $6 million in financing to Waterbury LIR, LLC, for the purposes of equity recapture and funding construction and future tenant improvements to the Waterbury Shopping Center in Waterbury, Connecticut.
Located on Wolcott Street, a major retail corridor in Waterbury, the property consists of 125,000 square-feet of retail space. Tenants include Jo-Ann Stores, Ollie’s Bargain Outlet and the Porter and Chester Institute, a regional career training school. Additionally, McDonalds will be constructing a new restaurant on the property.
“Tartaglia Commercial Properties has demonstrated their redevelopment and leasing skills with the redevelopment of this property,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Their expertise and professionalism are what make them such a valued client of Washington Trust. We are thrilled to expand our relationship with this successful transformation.”
“We always appreciate the personalized service we receive from Washington Trust,” added Lorraine Tartaglia of Tartaglia Commercial Properties.
Waterbury LIR, LLC is a CT limited liability company owned by Tartaglia Commercial Properties, one of Connecticut's largest privately held real estate development companies.
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 www.washtrust.com.
Rocky Hill, CT – Washington Trust’s Commercial Real Estate Group recently provided $7.4 million in financing to Woodgreen Rocky Hill, LLC, for the refinancing of a mixed-use property known as Waterchase Center in Rocky Hill, Connecticut.
Waterchase Center consists of 107,654 square-feet of mixed-use retail and office space. Built in 1988 and renovated in 2012, the Center includes six tenant spaces ranging in size from 6,574 to 56,850 square feet. Current tenants include the Porter and Chester Institute, DaVita HealthCare Partners, Namco Pool, Patio & Game Room Superstore, and Connecticut GI. The Center is located at 30 Waterchase Drive in Rocky Hill, situated in the southern section of Hartford County and surrounded by Wethersfield, Berlin, Newington and Glastonbury.
“Waterchase Center is a well-positioned retail center that delivers important service providers to Rocky Hill,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Washington Trust is pleased to work with new client Woodgreen Management.”
Woodgreen Rocky Hill, LLC is a single asset limited liability company of Woodgreen Management, Inc., which provides commercial real estate investment opportunities and property management services for retail and office properties 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 Mary Ettinger, Vice President, Commercial Real Estate Group, at 401-348-1415 or 1-800-475-2265 ext. 1415.
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 $14 million to Bensalem MZL, LLC, for the refinancing and redevelopment of a 101,000 square foot retail center in Bensalem, Pennsylvania. The suburb of Bensalem is approximately 16 miles northeast of downtown Philadelphia in Bucks County, PA.
Redevelopment of the property, which is located at 1837 Street Road, includes renovations to accommodate a ShopRite grocery store in the shopping center’s largest, 75,000 square-foot space. The center also includes outparcels occupied by Krispy Kreme and Philly Pretzel Factory. The shopping center is located less than a mile from Interstate 95 in the primary retail corridor of Bensalem.
“We are pleased to do more business with Katz Properties, providing them a flexible financing solution to work through the redevelopment of the center in Bensalem,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Once completed, the location will be a destination for local residents - providing a wide variety of retail amenities including grocery.”
Bensalem MZL, LLC, is a single-asset, limited liability company of Katz Properties, a real estate investment, development and management company primarily focused on the acquisition, operation and repositioning of grocery-anchored shopping centers along the East Coast and throughout the Midwest.
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/.
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.
Westerly, RI - Washington Trust’s Commercial Real Estate Group recently provided $12 million to Newglo Associates 284, LLC, for the refinancing of an 18,942 square-foot office and retail property in Boston, MA.
Located at the corner of Newbury and Gloucester Streets in Boston’s historic Back Bay, the property, built in 1899, includes an office over retail building with four above grade floors and one floor partially below grade. American shoe manufacturer, Frye Retail, and skincare and spa treatment center, Skin Spa New York, currently lease the property.
“This versatile property is well positioned on Newbury Street and attracts a wide variety of tenants, including Frye's flagship retail presence which certainly provides some cachet,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We were very pleased to continue working with the principals of Newglo on this exciting project.”
Newglo Associates 284 is a single-asset, limited liability company based in Massachusetts.
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 401-348-8247 or 1-800-475-2265 ext. 8247.
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