Washington Trust Provides $1.3 Million to MCG Johnston, LLC for Dollar General Construction
February 04, 2020
Johnston, RI - February 4, 2020 - Washington Trust’s Commercial Real Estate Group recently provided $1.3 million to MCG Johnston, LLC, for construction and permanent financing of a 9,100 square foot Dollar General retail store in Johnston. Dollar General was founded in 1939 and operates more than 15,500 stores across 44 states.
The store, located at Hartford Avenue/ Pine Grove Avenue in Johnston, is conveniently located on Route 6, less than two miles from I- 295. The neighborhood has great highway access and is well-developed with both commercial and residential properties.
“We are happy to expand our lending relationship with MCG Johnston, LLC,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust Commercial Real Estate Group. “The new Dollar General is a well-located amenity for Johnston residents, and sure to be a successful addition to our client’s retail portfolio.”
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. For more information, contact Kevin Hanrahan, Vice President, Commercial Real Estate Group at 401-348-1354, or kmhanrahan@washtrust.com.
ABOUT WASHINGTON TRUST®
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., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.