Washington Trust Provides $3.15 Million in Financing for Multi-Tenant Industrial Portfolio in Stratford, CT
April 07, 2016
April 7, 2016
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.
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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.