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Norwalk, CT – Washington Trust’s Commercial Real Estate Group recently provided $16.5 million to TR Washington, LLC, for the refinancing of a luxury multifamily apartment building in Norwalk, Connecticut.
SoNo Pearl is a newly constructed, 5-story, 66-unit luxury, multifamily apartment building located in the heart of Norwalk’s downtown; known as “SoNo.” The building consists of a two-level parking structure and includes 17 units on each the second, third and fourth floors and 15 units on the fifth floor. The SoNo location in which the property is located is considered the top live/work/play urban center of Norwalk.
“Washington Trust is thrilled to work with new client, SONO Pearl,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The units and amenities are beautifully designed to fit into this vibrant market, and we are so pleased to be a part of this endeavor.”
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 Julia Anne M. Slom at 401-348-1430 or 1-800-475-2265 ext. 1430.
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 million to Woodrow Wilson Middletown, LLC, for the refinancing of Woodrow Wilson Apartments, a 4-story, 66-unit apartment building in Middletown, Connecticut.
Woodrow Wilson Apartments consists of a mix of studio, one-bedroom and two-bedroom units. Originally constructed as a school in 1931, the building was converted to apartments in 1985 and has since undergone extensive renovations including new windows, kitchens and bathrooms throughout. Located at 339 Hunting Hill Ave. in Middletown, the property benefits from the town’s close proximity to Hartford and New Haven, both major employment centers of the region.
“Washington Trust is pleased to start a relationship with the Rak family, who have owned the Woodrow Wilson apartment property for many years,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Under their stewardship, the unique building has been meticulously cared for and the character of the original school maintained.”
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 $15.5 million in financing to Mayfield Place, LLC, for the phase-two construction of 120 class-A apartments at Mayfield Place, a 340-unit apartment project located in Enfield, Connecticut.
Mayfield Place is a three-phase construction project including 340 apartment units on a 69-acre property located in Enfield, between Hartford, CT and Springfield, MA. The first phase consisted of 100-units that are nearing completion, while the second phase of the project includes 120 apartment units to consist of twelve, two-story buildings, each containing ten units. Half of the units will be 1,129 square-foot, one-bedroom apartments with 1.5 baths, while the other half will include 1,448 square-foot, two-bedroom apartments with 2.5 baths. Each unit will have its own entrance and a one or two-car garage and feature upscale finishes including granite countertops, stainless steel appliances and crown moldings. The property also offers a clubhouse, pool, fitness center, business center and additional tenant storage.
“We are excited to finance the second phase of this successful project, which will, upon completion, fill a continued demand for rental housing in this conveniently located suburban community,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
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.
Westerly, RI – Washington Trust’s Commercial Real Estate Group recently provided $15.6 million in financing to 4 Research Properties, LLC, for the financing of Reservoir Corporate Center, a five-story, 158,000 square-foot, Class-A professional office building located at 4 Research Drive in Shelton, Connecticut.
Situated off of Routes 8 and 15, Reservoir Corporate Center is one of the most visible and well-positioned properties in the Shelton market. The property is 98% leased and primarily occupied by United Healthcare.
4 Research Properties, LLC is a single-asset, limited liability company of Rugby Realty Co., Inc. 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 Secaucus, New Jersey.
“This asset, boasting Class-A amenities and strong occupancy, is an exciting compliment to the Rugby Realty portfolio and we are pleased to have provided financing,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
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 401-401-1482 or 1-800-475-2265 ext. 1415.
Westerly, RI – Washington Trust’s Commercial Real Estate Group recently provided $2.1 million to HM Ventures Group 7, LLC, to finance the construction and residential/retail conversion of a historic, five-story building in the Downcity section of Providence, RI.
The building is located at 32 Custom House Street, within the historic Custom House District - the epicenter of Rhode Island’s maritime industry in the late eighteenth and early nineteenth centuries. Built in 1875, the 16,531 square-foot building is typical of the high Victorian Gothic style of its time, and will be converted into ten residential apartments with a 2,000 square-foot retail space on the ground floor. With the building’s original façade, grand glass storefront, rope molding and bronze casements in pristine condition, designers envision the ground-floor being anchored by a street-facing restaurant with a separate lobby servicing the apartments above.
“This property will help add to the influx of new residents to the downtown area, continuing Providence’s transformation to a 24/7 city instead of one that rolls up its sidewalks at 5 PM,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The adaptive re-use of this incredibly historic building is exciting to be a part of and will provide beautiful apartments in the heart of this transformed area.”
HM Ventures Group 7, LLC, is a New York investment entity affiliated with ASH NYC, a New York based real estate development, investment and design firm. ASH NYC recently completed the historically sensitive repositioning and gut renovation of the boutique Dean Hotel in Downtown Providence.
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 $33.5 million for the refinancing of North Haven Commons, a five building, multi-tenant retail property in North Haven, Connecticut.
North Haven Commons is located on Universal Drive North, directly off of Interstate-91 (Exit 9) in a strong retail corridor of North Haven. Constructed in 2008, the property is comprised of 196,447 square-feet of retail space contained in five separate buildings. Anchor tenants include Best Buy, Big Lots and Toys “R” Us/Babies “R” Us. Additional tenants include AT&T, Buffalo Wild Wings, Comcast, Froyoworld, Ideal Image, Olive Garden, Petco, Red Lobster and Ulta Beauty.
“Washington Trust is pleased to work with North Haven Commons in financing this well located property,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The strong ownership that has been in place almost since the property’s inception has been successful in placing a well-diversified mix of quality tenants that work well together.”
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