News: Financial Digest

Washington Trust provides $27 million financing to Rocky Hill Properties for 144-unit, class A multifamily property

Rocky Hill, CT Washington Trust’s Commercial Real Estate Group has provided $27 million in permanent financing to Rocky Hill Properties, LLC, for its 144-unit, class A multifamily property located at 11 Kensington Ln.

The property, known as Alterra, consists of 54 one-bedroom, one-bath units and 90 two-bedroom, two-bath units, which are located in five, three-story residential buildings. Amenities include a resort-inspired pool and deck with wi-fi, and outdoor lounge, fire pit and community grill, as well as a fitness facility, dog washing station, loaner bicycles, and a 2,727 s/f clubhouse.

“Washington Trust provided us with seamless execution for our recent refinancing of Alterra,” said Howard Rappaport, principal, Continental Properties, “The team at Washington Trust was proactive and highly professional, and fully understands our needs as both a borrower and an operator.”

“We are pleased to have provided financing for our borrower for Alterra, and to work with Howard and his team again,” said Julia Anne Slom, senior vice president & team leader of Washington Trust’s Commercial Real Estate Group. “This location gives occupants convenient access to major employers, entertainment, and retail areas throughout central Connecticut and beyond.”

MORE FROM Financial Digest

Preservation of Affordable Housing secures $23.5 million in financing from Rockland Trust and Citizens Bank

Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)

Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)

The Connecticut hospitality market has demonstrated uneven recovery patterns between 2019 and 2025, with boutique and historic properties achieving $125 RevPAR in 2025, up 8.7% from the 2019 level. Coastal resort properties achieved a $105 RevPAR in 2025, representing 10.5% growth since 2019. Casino corridor properties maintained modest growth with RevPAR improving 4.5% to $92 in 2025.
Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay

Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay

Preserving wealth across multiple generations requires strategic planning, foresight, and the right investment vehicles. Delaware Statutory Trusts (DSTs) offer a powerful solution for families looking to build and protect their financial legacy and to efficiently plan for their estate.