Washington Trust Provides $1.75 Million in Financing for Construction of Multi-Tenant Retail Space in Oxford, CT

OXFORD, Conn., Jan. 17, 2019 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $1.75 million in financing to MCG Oxford, LLC, for the construction of a multi-tenant retail space in Oxford, Connecticut. Located on a 1.1 acre parcel along CT Route 67 in Oxford, the new retail property will include a 7,500 square foot Dollar General store as well as a 2,500 square foot free standing retail building that can accommodate one to two tenants. Dollar General was founded in 1939 and operates more than 13,600 stores across 44 states.

“Washington Trust is pleased to continue the expansion of our relationship with Gary Eucalitto,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The Dollar General will be joined by another retailer fortunate to take advantage of this well-placed opportunity in Oxford.”

MCG Oxford, LLC, is a single owner limited liability company.

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 Mary Ettinger, Vice President, Commercial Real Estate Group, at 401-348-1415 or 1-800-475-2265 ext. 1415.

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/.