Washington Trust to finance homes in Conn.

LISBON, Conn. – The Washington Trust Co. last week announced it is providing $1 million in financing for the construction of single-family homes in Lisbon and Groton, Conn.
Washington Trust, a subsidiary of Washington Trust Bancorp, provided the financing package to aid the construction of five types of single-family homes set within a new 32-lot residential subdivision known as Barber Farm in Lisbon, according to a press release.
In Groton, single-family homes are being built in a new 10-lot subdivision dubbed Mill Pond Estates.
East Greenwich-based Tucker Development Group LLC is heading the development, which Anne M. Slom, senior vice president of Washington Trust’s commercial real estate group, lauded in a statement.
“Tucker Development is a strong housing developer and we are very pleased to finance such well-located residential projects with them,” Slom said.
Tucker Development group formed in 2006 as a land development company. It specializes in land subdivision for residential development projects, with a focus on the southern portion of Route 395 corridor in Eastern Connecticut, according to the release.
Washington Trust, based in Westerly, is the nation’s oldest community bank with $3.8 billion in total assets.

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