Washington Trust Provides $18.75 Million in Financing to Brunswick MZL, LLC for ‘Cook’s Corner’ Multi-Tenant Retail Space
February 21, 2020
Brunswick, ME - February 21, 2020 - Washington Trust’s Commercial Real Estate Group recently provided $18.75 million to Brunswick MZL, LLC for the refinancing and renovation of a 300,259 square foot multi-tenant retail space in Brunswick, ME known as ‘Cook’s Corner.’ Situated on a 24-acre parcel, the retail center is located at 8,11, 13 and 19 Gurnet Road with convenient access to Maine Route 24 (Bath Road).
The property hosts 17 tenants that includes Hannaford’s supermarket, TJ Maxx, Staples and Regal Cinemas. The loan will provide funding for significant upgrades to the property that will include new roofing, signage, paving, and storefront façade work.
“Washington Trust is pleased to continue to expand our relationship with KPR (Katz Properties Retail),” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Their experience in locating, tenanting and maintaining quality assets is the reason they are successful, and we are happy to have provided a financing package that met their needs.”
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 M. Pickering, Senior Vice President, Commercial Real Estate Group, at 401-348-1482 or tmpickering@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/.