Washington Trust Finances $4.3 Million Mixed Use Milford Property
Location includes retail space and apartment units
WESTERLY, R.I.--(BUSINESS WIRE)-- Washington Trust'sCommercial Real Estate Groupprovided $4.3 million in acquisition financing to Metro 100, LLC for a mixed use property in Milford, CT. The property, located at 100-102 Lansdale Avenue, contains 23 apartment units and 20,808 square feet of retail space. The Sponsors, Metro Star Properties of Milford, CT, plan to make significant enhancements to the property.
"This property is located in a great market and is being acquired by experienced developers who have a long history of adding value to the properties that they acquire," said Joseph J. MarcAurle, Washington Trust Chairman, President and CEO.
Washington Trust'sCommercial Real Estate Groupprovides 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, contactTimothy Pickering, Senior Vice President, Commercial Real Estate Group, 401-348-1482 or 1-800-475-2265 ext. 1482.
Founded in 1800,Washington Trustis one of New England's premier financial services companies, providingcommercial banking,personal banking,mortgage banking, andwealth managementservices to individuals and institutions throughout the region. OurCommercial Banking Groupoffers 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 ofWashington Trust Bancorp, Inc.(NASDAQ Global Select, symbol: WASH).
Elizabeth B. Eckel, 401-348-1309
KEYWORDS: United States North America Connecticut Massachusetts New York Rhode Island
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