Washington Trust Provides $16.395 Million to V20 Group
October 24, 2022
Darien, Conn. - Washington Trust’s Commercial Real Estate Group recently provided $16.395 million in financing to a V20 Group-related entity for the acquisition and improvement of a 70,000 square foot office building in Darien, Connecticut.
The property is improved with a three-story Class A office building located in Darien’s CBD area, with strong regional accessibility via US Route 1, I-95, and the Darien Train Station, all located within 0.50 miles of the property. The owners have already commenced a capital improvement plan to modernize the building inclusive of a new façade and upgraded common areas.
“Despite the uncertainty surrounding the office market, as many employees continue to work from home, the Bank recognized the appeal of the subject property given its excellent location in close proximity to various retail amenities and transportation, as well as a stable tenant roster with strong occupancy levels,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We are pleased to have expanded our relationship with V20 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 Bethany Lyons, Vice President, Commercial Real Estate Group, at 401-348-1538.