Washington Trust Provides $15.4 Million in Commercial Financing for Acquisition of Office Building in Norwood, MA
December 06, 2019
Norwood, MA - December 6, 2019 - Washington Trust’s Commercial Real Estate Group provided $15.4 million to a Massachusetts based developer for the acquisition of a 130,000 square-foot office building in Norwood, Massachusetts. Located at the intersection of Route 1 and University Avenue in Norwood, the property includes 24 acres of land across three continuous parcels. The building, constructed in 1980, spans the property and contains 132,457 square-feet of office space as well as an onsite café and gym.
“Washington Trust was pleased to provide financing to our long-term client to purchase this well-located asset,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We wish them continued success with the property.”
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 Bethany Lyons, Vice President, Commercial Real Estate Group, at 401-348-1538 or 1-800-475-2265 ext. 1538.
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/.