Washington Trust Provides $15.6 Million in Financing for 5-Story, Class-A Office Building in Shelton, CT
March 22, 2017
March 22, 2017
Westerly, RI – Washington Trust’s Commercial Real Estate Group recently provided $15.6 million in financing to 4 Research Properties, LLC, for the financing of Reservoir Corporate Center, a five-story, 158,000 square-foot, Class-A professional office building located at 4 Research Drive in Shelton, Connecticut.
Situated off of Routes 8 and 15, Reservoir Corporate Center is one of the most visible and well-positioned properties in the Shelton market. The property is 98% leased and primarily occupied by United Healthcare.
4 Research Properties, LLC is a single-asset, limited liability company of Rugby Realty Co., Inc. Rugby Realty engages in the purchase, development, and management of real estate holdings and owns and operates 8 million square feet of commercial real estate in New York, New Jersey, Connecticut, Florida, Georgia and Pennsylvania. The company is based in Secaucus, New Jersey.
“This asset, boasting Class-A amenities and strong occupancy, is an exciting compliment to the Rugby Realty portfolio and we are pleased to have provided financing,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
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 Mary Ettinger, Vice President, Commercial Real Estate Group, at 401-401-1482 or 1-800-475-2265 ext. 1415.
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 www.washtrust.com.