Washington Trust Finances $6.9 Million Property Near UConn

Before you go, we thought you'd like these...
Before you go close icon

Washington Trust Finances $6.9 Million Property Near UConn

Price Chopper Supermarket & Retail Store in Development

WESTERLY, R.I.--(BUSINESS WIRE)-- Washington Trust'sCommercial Real Estate Group provided $6.9 million in construction financing to Storrs Center Alliance, LLC for the construction of a 32,175 square foot Price Chopper Supermarket and a 5,000 square foot stand-alone retail building in Mansfield, CT. The property is located in downtown Mansfield, across from the University of Connecticut and is the latest phase of the successful Storrs Center project being developed by LeylandAlliance, LLC.

"The property has great market potential and is located in an especially attractive, high-traffic area near the University of Connecticut," said Joseph J. MarcAurele, Washington Trust Chairman, President and CEO.

Leyland Alliance, LLC is a real estate development company focused on the creation of mixed-used sustainable neighborhoods founded upon the principles of New Urbanism . Based in Tuxedo, NY the company develops neighborhoods that highlight innovative construction and environmental responsibility.

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, 401-348-1482 or 1-800-475-2265 ext. 1482.

Founded in 1800, Washington Trust is one of New England's premier financial services companies, providing commercial banking, personal banking , mortgage banking , and wealth management services to individuals and institutions throughout the region. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc. (NASDAQ Global Select, symbol: WASH).

Washington Trust
Elizabeth B. Eckel, 401-348-1309
SVP Marketing

KEYWORDS:   United States  North America  Connecticut  New York  Rhode Island


The article Washington Trust Finances $6.9 Million Property Near UConn originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading