Washington Trust Provides $18M to Acquire Industrial Facility
Washington Trust’s Commercial Real Estate Group has extended a financing package of $17.6 million to Cheshire Industrial Owner. The funds will facilitate the acquisition of a sizable 318,000 square foot warehouse distribution facility in Cheshire, Connecticut.
Located at 475 Knotter Drive, the facility features 32-foot clear height, a spacious layout, and dock doors on both ends. The financing comes through a joint venture between Rabina Properties and Wharton Industrial, an affiliate of Wharton Equity Partners.
“The US Industrial and logistics market fundamentals continue to remain strong with continued demand for well-located and functional properties,” said Julia Anne M. Slom, Washington Trust’s executive vice president & chief commercial real estate officer.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.