Washington Trust Finances $6.9 Million Property Near UConn


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 Groupprovided $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 successfulStorrs Centerproject being developed byLeylandAlliance, 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 ofNew Urbanism. Based in Tuxedo, NY the company develops neighborhoods that highlight innovative construction and environmental responsibility.

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 Trust is 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).

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.

Originally published