Washington Trust provides $9.8M for Connecticut development

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THE WASHINGTON TRUST CO. recently provided $9.8 million to finance a new commercial project in downtown New Haven, Conn., which includes a recently constructed Rite Aid Pharmacy and a 10,000-square-foot retail building.
THE WASHINGTON TRUST CO. recently provided $9.8 million to finance a new commercial project in downtown New Haven, Conn., which includes a recently constructed Rite Aid Pharmacy and a 10,000-square-foot retail building.

WESTERLY – The Washington Trust Co. recently provided $9.8 million to finance a new commercial project in downtown New Haven, Conn.

The Westerly-based bank refinanced the project with Route 34 I LLC, a subsidiary of New York-based Leyland Alliance. The development group headed the project, which includes a recently constructed Rite Aid Pharmacy and a 10,000-square-foot retail building.

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“This was a great opportunity to expand our relationship with Leyland Alliance,” said Julia Anne M. Slom, senior vice president and team leader of Washington Trust’s commercial real estate group.

“We value our relationship and look forward to working on more new projects in the future,” she added.

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Washington Trust, a subsidiary of Washington Trust Bancorp Inc., is the second-largest Rhode Island-based bank.

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