Washington Trust Provides $12.2 Million to Hamden Plaza Associates
August 19, 2020
Hamden, CT- August 19, 2020 - Washington Trust’s Commercial Real Estate Group recently provided $12.2 million to Hamden Plaza Associates, LLC, for the refinancing and renovation of a retail shopping center at 2100 Dixwell Ave. in Hamden, CT. The property consists of 32 tenants, including ShopRite, Marshall’s, Party City, and Planet Fitness. The 255,574 square foot complex is comprised of four buildings situated on a 23.5 acre parcel.
“Washington Trust recognized the inherent value in our property and provided the financing necessary to further increase that value,” said property owner Andrew Bermant, “They were reasonable, honorable, and extraordinarily responsive, even during a historic pandemic affecting the entire retail economy.”
“Washington Trust was pleased to begin a relationship with Mr. Bermant and Hamden Plaza Associates, LLC,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Their shopping center is situated in an ideal location and hosts 32 tenants that offer strong services and amenities to the greater Hamden community.”
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 Timothy Pickering, Senior Vice President, Commercial Real Estate Group, at 401.348.1482.
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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/.