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Posted: February 27, 2013
Washington Trust finances $1.5 million apartment complex
Washington Trust's commercial real estate group provided $1.548 million in commercial mortgage financing to George C. Field. Co. for improvements on a 31-unit apartment complex located on a 5.6-acre parcel at 1 Cohasset Ln. The financing package includes both a revolving line of credit to fund the construction project and capital improvements for renovations for the complex, which is located in New Haven County, Connecticut.
"This property is located on the fringe of downtown Madison, an affluent, shoreline community located on I-95, less than a quarter-mile from the train station," said Joseph MarcAurele, Washington Trust chairman, president, and chief executive officer.
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