Business Excellence Awards
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By Rhonda Miller
PBN Staff Writer
WESTERLY – Washington Trust’s Commercial Real Estate Group has provided $4.3 million in financing to Metro 100 LLC for acquisition of a mixed-use property in Milford, Conn., according to a press release.
The property has 23 apartment units and about 20,000-square-feet of retail space. It is being developed by Metro Start Properties of Milford, Conn.
"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 Washington Trust Chairman, President and CEO Joseph J. MarcAurele.
Washington also provided $1.27 million in refinancing to New Milford Main Investment LLC for an 11,108-square-foot retail building in New Milford, Conn, which is currently leased entirely to Rite Aid Pharmacy.
“This building is in a thriving location, directly across from the town’s largest retail center with another shopping center currently under construction, making it an attractive property,” said MarcAurele.