Washington Trust provides Conn. refinancing

WESTERLY – Washington Trust’s Commercial Real Estate Group continues its financing efforts in the region with the announcement of a recent $21.24 million refinancing for eight office buildings in Windsor, Conn.
Washington Trust Co., based in Westerly, provided the funds to The Real Group II LLC to refinance eight Class A and Class B industrial and flex office buildings. The eight buildings are located within a mile of each other along an industrial corridor. Washington Trust Chairman and CEO Joseph J, MarcAurele, in a statement, lauded the areas potential.
“The current and future potential of these eight properties is heightened by their location,” he said. “With its convenient access to transportation, the Hartford Metro region has become one of Connecticut’s most active areas of development.”
The industrial corridor, along Day Hill Road in Windsor, has access to I-91 and Bradley International Airport in Windsor Locks, according to a press release. The commercial financing in Connecticut signals continued success for the bank’s commercial real estate arm working in neighboring state. Julia M. Slom, senior vice president and team leader of Washington Trust Co.’s Commercial Real Estate Group, recently told PBN in an interview that Connecticut has proven to be a lucrative market for the commercial group, especially last year.