Washington Trust finances office condo

WESTERLY – The Washington Trust Co.’s commercial lending group recently provided financing to GBM Holdings LLC, of Warwick, to purchase a 4,285-square-foot office condominium at 117 Metro Blvd., Warwick.
The unit is expected to be occupied by Gallo-Thomas Insurance.
GBM Holdings is the real estate holding company for Gallo-Thomas Insurance, which was founded by the late Thomas P. DiSanto Jr. in 1976. The company is an independent insurance agency that sells a range of insurance products and services to individuals and businesses located primarily in the southern New England area. GBM Holdings and Gallo/Thomas Insurance are owned by Thomas J. DiSanto.
“The insurance industry has gone through considerable changes over the past few years, and has become highly competitive,” said John C. Warren, Washington Trust chairman and CEO. “The Gallo/Thomas insurance agency has endured decades of changes, and we wish them continued success in the years to come.”
Washington Trust’s commercial lending group – led by Russell W. Hahn, senior vice president – provides credit and cash management products.
Washington Trust Bancorp Inc. (Nasdaq: WASH) is the parent of The Washington Trust Co., a Rhode Island-chartered bank founded in 1800 that has offices in Rhode Island, Massachusetts and southeastern Connecticut. Additional information is available at www.WashTrust.com.