Washington Trust provides financing for Conn. property

WESTERLY – Washington Trust’s Commercial Real Estate Group provided $1.5 million in financing to Darin Hospitality Group LLC for refinancing of a ground lease on a parcel of more than five acres currently leased to Whole Foods Market, according to an April 1 press release from the bank.
“Whole Foods is a strong, trendsetting brand in their industry and the Darien location provides an ideal center of visibility for the market,” said Washington Trust Chairman and CEO Joseph J. MarcAurele.
The 50,000 square-foot Whole Foods Market in Darien is the single-tenant of the 5.12-acre site. Darien Hospitality Group LLC acquired the property in 1994 and it was run as a Howard Johnsons hotel until Whole Foods Market executed its lease in 2008.

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