News: Front Section
Posted: February 15, 2017
Washington Trust provides $33.5 million in financing for five building retail property - North Haven Commons
North Haven, CT Washington Trust’s Commercial Real Estate Group recently provided $33.5 million for the refinancing of North Haven Commons, a five building, multi-tenant retail property.
North Haven Commons is located on Universal Dr. North, off of I-91 (Exit 9). Constructed in 2008, the property is comprised of 196,447 s/f of retail space contained in five separate buildings. Anchor tenants include Best Buy, Big Lots and Toys “R” Us/Babies “R” Us. Additional tenants include AT&T, Buffalo Wild Wings, Comcast, Froyoworld, Ideal Image, Olive Garden, Petco, Red Lobster and Ulta Beauty.
“Washington Trust is pleased to work with North Haven Commons in financing this well located property,” said Julia Anne Slom, senior vice president and team leader of Washington Trust’s Commercial Real Estate Group. “The strong ownership that has been in place almost since the property’s inception has been successful in placing a well-diversified mix of quality tenants that work well together.”
Washington Trust’s Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects.
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc.
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