Washington Trust Provides $6 Million for Refinancing of Cheshire Shopping Center and CVS Pharmacy in Cheshire, CT

1/24, 9:31 PM (Source: GlobeNewswire)

CHESHIRE, Conn., Jan. 24, 2019 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $6 million to Cheshire-ILR, LLC, for the refinancing of the Cheshire Shopping Center and a CVS outparcel in Cheshire, Connecticut. Both the shopping center and pharmacy are located on South Main Street (Rt. 10) in Cheshire. Cheshire Shopping Center sits on a 9-acre site and includes 12 retail spaces with more than 68,000 square-feet of retail space. Current tenants include Advance Auto Parts, the Cheshire YMCA, and several local businesses. The adjacent parcel is a 13,013 square-foot CVS Pharmacy constructed in 2007. CVS Health is currently the largest pharmacy health care provider in the U.S., with more than 9,800 locations.   

“Tartaglia Commercial Properties maintains strong retail properties in the region, and this well-placed asset with a great diverse tenant roster is no exception,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We are grateful for the opportunity to continue to expand our relationship with the refinancing of this property.”

“We appreciate the innovative, and tailored services that Washington Trust continues to provide to our Company,” said Lorraine Tartaglia, Tartaglia Commercial Properties. “Tim Pickering and the Washington Trust team continuously and effortlessly fulfill our financial needs and requirements.”

Cheshire-ILR, LLC is a CT limited liability company owned by Tartaglia Commercial Properties, one of Connecticut's largest privately held real estate development companies.

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 Timothy Pickering, Senior Vice President, Commercial Real Estate Group, at 401-348-1482 or 1-800-475-2265 ext. 1482.

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/.

MEDIA CONTACT:
Tony Nunes

Public Relations
401.348.1657
ajnunes@washtrust.com

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