2014 Government Regulations & Business Summit
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By Michael Souza
PBN Staff Writer
WESTERLY – The commercial real estate group at Washington has provided a $1.5 million dollar commercial mortgage to Phoenix New Park Avenue LLC for the acquisition of a retail property currently occupied by Advanced Auto Parts, 443 New Park Ave., West Hartford, Conn.
“The corporate guarantee of a lease by Advanced Auto Parts, the nation’s second largest auto parts supplier, makes this an attractive property,” said Joseph J. MarcAurele, Washington Trust chairman, president, and CEO. “It’s proximity to other national retail stores also makes this prime retail property.”
The group supplies commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects, with sizes ranging from several hundred thousand dollars to multi-million dollar projects.