Washington Trust Provides $4.2 Million to Woodgreen Shelton, LLC for Class B Office Building
January 20, 2020
Shelton, CT - January 15, 2020 - Washington Trust’s Commercial Real Estate Group recently provided $4.2 million to Woodgreen Shelton, LLC, for financing of a 46,000 square foot Class B office building in Shelton.
The three-story building is located at 375 Bridgeport Avenue just off Route 8, at the northwest corner of the intersection of Bridgeport Avenue and Nells Rock Road. The property is adjacent to Big Y and benefits from a convenient location with access to regional highways. The building hosts fourteen unique tenants and was recently renovated with upgrades to the lobby and common areas, HVAC system, elevators, and roof.
“We are happy to expand our lending relationship with our existing client, Woodgreen Management, Inc.,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust Commercial Real Estate Group. “The office space is very well maintained and conveniently located in a retail area close to New Haven.”
Woodgreen Management, Inc. provides commercial real estate investment opportunities and property management services for retail and office properties throughout Southern New England.
Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Kevin Hanrahan, Vice President, Commercial Real Estate Group at 401-348-1354, or kmhanrahan@washtrust.com.
ABOUT WASHINGTON TRUST®
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.