WESTERLY – The Washington Trust Co. has provided $12.4 million in financing for a Norwalk, Conn., retail plaza anchored by Marshalls, a longtime tenant at the 45,658-square-foot shopping center owned by M.F. DiScala for more than 40 years.
The property, located at 396 Westport Ave., has maintained strong occupancy and cash flow in a prime location, according to the bank. Washington Trust closed the loan last month.
Your Business Has Gone Global. Has Your Insurance?
A decade ago, “doing business internationally” was mostly a large-company concern. Today, a manufacturer in…
Learn More
“This transaction underscores our focus on financing strong, well-performing assets,” said Bethany Lyons, Washington Trust senior vice president and commercial real estate team leader. “We were pleased to establish a new relationship with M.F. DiScala and offer a structure that supports their long-standing success in a market we greatly care about and deeply value.”
Washington Trust’s Commercial Real Estate Group provides financing for the construction, refinancing, or acquisition of investment properties, handling deals from several hundred thousand dollars to multimillion-dollar transactions.
Norwalk-based M.F. DiScala manages more than 60 properties across 11 states and 27 cities, totaling more than 11 million square feet.
The firm focuses on acquiring, developing, managing and leasing warehouses, distribution and commercial properties nationwide.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
