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Washington Trust Provides $5.25 Million in Financing to Airport Professional Park

Dépèche transmise le 17 novembre 2011 par Business Wire

Washington Trust Provides $5.25 Million in Financing to Airport Professional Park

Washington Trust Provides $5.25 Million in Financing to Airport Professional Park

WESTERLY, R.I.--(BUSINESS WIRE)--Washington Trust, Rhode Island's largest independent bank, recently provided $5,250,000 in financing through its Commercial Real Estate Group to Post Road Properties to refinance a five-building office complex located at 2346, 2348, 2350, 2364 and 2374 Post Road in Warwick, R.I. The Airport Professional Office Park is conveniently located just south of T.F. Green Airport and attracts a wide variety of office tenants. The buildings’ cedar style shingle siding, marble foyers, quality interior finishes, and attractive landscaping make the Park a distinctive property. With more than 35 tenants, the Office Park has enjoyed historical high occupancies of well over 90%.

“The Airport Professional Office Park is attractive and conveniently located to both T.F. Green Airport and Interstate 95 in Warwick, RI, making it an ideal site for local businesses”

"The Airport Professional Office Park is attractive and conveniently located to both T.F. Green Airport and Interstate 95 in Warwick, RI, making it an ideal site for local businesses,” stated Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer.

Laurel Bowerman, Washington Trust Vice President, served as lead lender for the project as part of Washington Trust's Commercial Real Estate Group, which provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Washington Trust provides financing to clients in Rhode Island, Massachusetts and Connecticut, as well as throughout the Northeast. Bank financing ranges from several hundred thousand dollars up to multi-million dollars. For more information, contact Julia Anne M. Slom, Senior Vice President, Commercial Real Estate Group, toll-free at 800-475-2265 x1430 or directly at 401-348-1430.

Founded in 1800, Washington Trust is the largest independent bank headquartered in Rhode Island and the oldest community Bank in the nation. Washington Trust provides commercial banking, small business banking, personal banking, mortgage banking, and wealth management and trust services to individuals and institutions throughout the Northeast. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Washington Trust is an SBA preferred lender. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).

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Business Wire

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