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Westerly, RI– Washington Trust’s Commercial Real Estate Group recently provided $1.1 million to Thames Development Associates, LLC, for the construction of seven condominium units at Thames Landings in Waterford, Connecticut.
Thames Landings is a condominium complex on a 9.5 acre property overlooking the Thames River. The seven units being constructed are part of building 8 of the complex, located at 64 Scotch Caps Road. Each unit will be a three-story townhouse with two bedrooms, two bathrooms, two decks, hardwood floors, granite countertops, central air conditioning and a one-car garage. Amenities will include an in-ground pool and tennis court on-site.
“Washington Trust provided flexible construction financing, making it easier for us to deliver a quality product to the eventual condominium owner,” said Paul Denz, Founder & President, Northside Development Company.
“We are delighted to continue working with Paul Denz, a valued client of Washington Trust, on this project in Waterford,” added Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We found a creative solution to help with the construction of the units and are pleased to see the success at Thames Landings under Northside’s expertise. These condominiums will help fill the demand in the local area for quality units in a great location.”
Thames Development Associates, LLC, is owned by Northside Development Company, a Connecticut based real estate development company concentrating in the New Haven market.
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/.
Trumbull, CT– Washington Trust’s Commercial Real Estate Group recently provided $39.6 million in financing to Trumbull Developers, LLC, for the development and construction of Trumbull Lofts, a 202-unit, class-A apartment complex in Trumbull, Connecticut.
Included within the 202 units of Trumbull Lofts will be 119 apartments with two bedrooms and two bathrooms and 83 one bedroom apartments with one bathroom. The apartments are located among five separate four-story buildings. Amenities of Trumbull Lofts will include a resort-inspired pool and deck with wi-fi, an outdoor lounge, fire pit and community grill, a catering kitchen, fitness facility, dog washing station, loaner bicycles and a spacious clubhouse.
“Continental Properties has a true knack for building multifamily properties that deliver unexpected extras,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The designs are beautiful and well thought out and the amenities are unsurpassed. I think what differentiates them is the attention to detail. We are very pleased to continue working with Howard Rappaport and his team.”
“We were excited by the opportunity to work with Washington Trust on this important development,” said Howard S. Rappaport, a principal at Continental Properties. “Their execution of this construction financing has been timely and very professional, and it continues to be a pleasure working with Julia Anne Slom, Mary Ettinger and the team at Washington Trust.”
Trumbull Developers, LLC, is a single asset limited liability company of Continental Properties, a privately owned real estate firm which has actively built over 25,000 homes and residential residences throughout New Jersey, New York, Florida, Connecticut, California and other locations across the United States.
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/.
East Providence, RI – Washington Trust’s Commercial Real Estate Group recently provided $19.6 million in financing to Kettle Point Apartments, LLC, for the construction of a 134 unit, Class-A apartment complex in East Providence, Rhode Island.
Located on a 6.61 acre site on Kettle Point Avenue, the property includes 65 one-bedroom units, 65 two-bedroom units and four three-bedroom townhouse units. Each luxury apartment will feature laminate countertops, ceramic tiled bathrooms, 42” kitchen cabinets, crown molding, stainless steel appliances and laundry machines as well as vinyl plank wood flooring in the kitchen and carpeting in the living areas. Onsite amenities will include a clubhouse with a tenant lounge area and yoga room, an outdoor swimming pool and fitness center. The property features views of Narragansett Bay to the south and the city of Providence skyline to the northwest.
“Washington Trust is very excited to be involved with this fabulous project,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The views from this location, combined with the proximity to Providence and its wonderful units and amenities, make this a one of a kind property for the area.”
Kettle Point Apartments, LLC, is a single asset limited liability company established for the sole purpose of developing the Kettle Point Avenue property.
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 Bowerman, Vice President & Market Leader, Commercial Real Estate Group, at 401-348-8247 or 1-800-475-2265 ext. 8247.
Essex, CT– Washington Trust’s Commercial Real Estate Group recently provided $8.6 million in financing to 21 Plains, LLC, 27 Plains, LLC and 29 Plains, LLC, for the construction of Essex Station Apartments, a 3-building, 52-unit luxury rental community with a moderate income component in Essex, Connecticut. The property is comprised of 51,976 square feet of rentable space which includes 30 one-bedroom and 22 two-bedroom garden apartments.
Located at 21, 27 and 29 Plains Road in Essex, the property is in close proximity to both CT Route 9 and Interstate 95.
“Essex Station Apartments, with its high quality construction and finish and the accompanying amenities, will meet a demand in the Essex community that is not currently being met by nearby properties,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Washington Trust is excited to be a part of this transformative project.”
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 401-401-1482 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.
Westerly, RI– Washington Trust’s Commercial Real Estate Group recently provided $1.9 million to Capstone Properties/RPS Associates, LLC, for the construction and financing of a Family Dollar retail store in Providence, Rhode Island. Located at 70 Plainfield Street, the property consists of 8,470 square-foot of retail space. Family Dollar, a wholly-owned subsidiary of Dollar Tree, Inc., manages 8,200 stores in rural and urban settings across 46 states.
“We were pleased to be able to provide financing for RPS’ build to suit project for their tenant - Family Dollar,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The popular retailer will be a strong addition to the neighborhood and Washington Trust is glad to be part of their development strategy.”
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 Bowerman, Vice President, Market Leader, Commercial Real Estate Group, at 401-348-8247 or 1-800-475-2265 ext. 8247.
Morris, CT– Washington Trust’s Commercial Real Estate Group recently provided $1.1 million in financing to MCG Morris, LLC, for the construction of a Dollar General Store in Morris, Connecticut. Located at 16 West Street in Morris, the new retail property includes 7,544 square feet of space on a 1.33 acre parcel. Dollar General was founded in 1939 and operates more than 13,600 stores across 44 states.
“Our client has a talent for finding strategic locations for the Dollar General locations that they build - filling a real niche in the community,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We are very pleased to be a partner in this venture.”
MCG Morris, LLC, is a single owner limited liability company.
Westerly, RI – Washington Trust’s Commercial Real Estate Group recently provided $1 million to Tucker Development Group, LLC for the construction financing of single-family homes in subdivisions located in Lisbon and Groton, CT.
In Lisbon, CT, the construction will consist of five types of single-family homes set within a new 32-lot residential subdivision known as Barber Farm. Each lot varies in size from one to five acres. In Groton, CT, the homes are being built within Mill Pond Estates, a new 10-lot subdivision located in close proximity to downtown Groton, the Groton Naval Base, and Pfizer.
“Tucker Development is a strong housing developer and we are very pleased to finance such well located residential projects with them,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
Tucker Development Group, LLC was formed in 2006 as a land development company specializing in land subdivision for residential development, focusing on the southern portion of the Rt. 395 corridor in Eastern Connecticut, from Groton to Norwich in New London County.
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 Real Estate Group, at 401-348-1681 or 800-475-2265 ext. 1681.
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.
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