Washington Trust provides $3.9 million in financing to BPVIF V Holdings 37, LLC

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May 16, 2023, 14:00 ET

TAUNTON, Mass., May 16, 2023 /PRNewswire/ -- Washington Trust's Commercial Real Estate Group recently provided $3.9 million in financing to a Berkeley Partners entity for the acquisition of an 34,236 square foot, fully leased industrial property located at 75 John Hancock Road in Taunton, Mass.

75 John Hancock Road, Taunton, Massachusetts

The subject property is conveniently located in the Metro South industrial market with great highway access in close proximity to Interstates 95 and 495, as well as Routes 24 and 44. "We are excited to expand our relationship with Berkeley Partners, which own and operate more than 10 million square feet of light industrial real estate in some of the fastest growing U.S. cities and sub-markets," said Julia Anne M. Slom, Washington Trust's Executive Vice President & Chief Commercial Real Estate Officer.

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 Bethany Lyons, Vice President, Commercial Real Estate Group, at 401-348-1538.

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 washtrust.com.)

ABOUT BERKELEY PARTNERS
Berkeley Partners, along with its affiliated entities, is a fully integrated principal investment firm focused exclusively on industrial real estate. Since 2005, its affiliates have sponsored a series of value-add and core-plus investment vehicles dedicated to the light industrial sector. The Firm's vertically integrated platform includes competencies in asset management, property management, leasing management and construction management. As of December 31, 2022, Berkeley Partners owns and operates approximately 10.0 million square feet of light industrial real estate with $2.2 billion of assets under management across targeted growth and gateway markets within the United States.

SOURCE The Washington Trust Company