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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.
