Washington Trust provides $6M to finance Waterbury Shopping Center

WATERBURY, Conn. – The Washington Trust Co. commercial real estate division recently provided $6 million to finance a Waterbury, Conn., shopping center.
The funding will be used to recapture equity and fund construction to improve the center called Waterbury Shopping Center. The 125,000-square-foot retail building is occupied by tenants including Jo-Ann Stores, Ollie’s Bargain Outlet, and Porter and Chester Institute, a regional career training school, according to a press release.
The deal was made with Waterbury LIR LLC, a subsidiary of Tartaglia Commercial Properties, which specializes in privately held real estate development.
“Tartaglia Commercial Properties has demonstrated their redevelopment and leasing skills with the redevelopment of this property,” said Julia Anne M. Slom, senior vice president and head of Washington Trust’s Commercial Real Estate Group. “Their expertise and professionalism are what make them such a valued client of Washington Trust. We are thrilled to expand our relationship with this successful transformation.”
McDonald’s is slated to construct a new restaurant on the property, according to the release.
“We always appreciate the personalized service we receive from Washington Trust,” said Lorraine Tartaglia, of Tartaglia Commercial Properties.
Washington Trust is a subsidiary of Washington Trust Bancorp Inc. based in Westerly.

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