Washington Trust funds $15.5M apartment project in Connecticut

ENFIELD, Conn. – Washington Trust’s commercial real estate division recently provided $15.5 million in financing for a 340-unit apartment complex project in Enfield, Conn.
Washington Trust, a subsidiary of Washington Trust Bancorp Inc., made the deal with Mayfield Place LLC. The real estate company will use the money to fund phase two of the ongoing, three-phase project, which includes the construction of 120 of the units, according to a press release.
“We are excited to finance the second phase of this successful project, which will – upon completion – fill a continued demand for rental housing in this conveniently located suburban community,” said Julia Anne M. Slom, senior vice president and team leader of the bank’s commercial real estate division.
The project is being built on a 69-acre property located in Enfield, which is between Hartford, Conn., and Springfield, Mass.
Washington Trust, with assets totaling $4.4 billion, is the second-largest Rhode Island-based bank.

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