Washington Trust provides $10 million financing

West Haven, CT Washington Trust’s Commercial Real Estate Group provided $4.7 million to Forest Hills Place Limited Partnership and $5.3 million to Elm Regency Limited Partnership for the refinancing and capital improvements of two apartment buildings.

 Forest Hills Apartment Complex, the first of the two properties, consists of four, three-story walk-up buildings containing 88 apartment units located on a 2.81-acre site. As a result of its close proximity to the University of New Haven, within a half-mile from the campus, the University leases the property for use as student housing. The second property, Elm Regency, consists of a four-story, 88-unit apartment complex on a 1.77-acre site. The Elm Regency property is located approximately .25-miles east of West Haven’s central business district.

“Washington Trust is actively lending in Connecticut and in particular the markets in and around New Haven,” said Julia Anne Slom, senior vice president & team leader of Washington Trust’s Commercial Real Estate Group.