Washington Trust finances $11M acquisition in Connecticut

WESTERLY – The Washington Trust Co. recently provided $11.7 million to finance the acquisition of a mixed-use commercial property in Westport, Conn.

The Westerly-based bank provided the financing to JPM Westport LLC, a subsidiary of Accel International, which acquired the two-story, 34,062-square-foot building.

“Washington Trust is very pleased to begin a relationship with Accel International, financing their acquisition of this premier Westport asset,” said Julia Anne M. Slom, senior vice president and leader of the bank’s commercial real estate division.

The building is separated into five retail spaces, according to a press release, and the property includes a 100-space parking lot adjacent to the building.

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“With its proximity to the downtown shopping and commercial district of Westport, the property’s retail and office spaces are highly desirable,” Slom said.

Washington Trust is a subsidiary of Washington Trust Bancorp Inc. with $4.5 billion in assets. It’s the second-largest Rhode Island-based bank.

Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.