Darien, CT Washington Trust’s Commercial Real Estate Group provided $16.395 million in financing to a V20 Group-related entity for the acquisition and improvement of a 70,000 s/f office building .
The property is improved with a three-story class A office building located in the town’s CBD area, with strong regional accessibility via US Rte. 1, I-95, and the Darien Train Station, all located within 0.50 mile of the property. The owners have already commenced a capital improvement plan to modernize the building inclusive of a new façade and upgraded common areas.
“Despite the uncertainty surrounding the office market, as many employees continue to work from home, the bank recognized the appeal of the subject property given its excellent location in close proximity to various retail amenities and transportation, as well as a stable tenant roster with strong occupancy levels,” said Julia Anne Slom, senior vice president & team leader of Washington Trust’s Commercial Real Estate Group. “We are pleased to have expanded our relationship with V20 Group.”