Washington Trust's commercial real estate group provided $4.8 million in financing to Lakeview Center Associates, LLC and Branford Equities, LLC for the refinancing of Lakeview Center, a 69,955 s/f shopping center located at 249-251 West Main St., consisting of four single-story buildings leased by 16 tenants.
"The property is centrally located in Branford along the Rte. 95 corridor, which makes it an attractive property for tenants to lease," said Joseph MarcAurele, Washington Trust chairman, president and CEO.
Lakeview Center, LLC is operated by managing member Edmond DeLaurentis, Jr., a second generation real estate developer and operator who has been in the business more than 25 years. He and other members Herman Gans, Ram Gupta, and Theodore Sannella also own several other well-leased shopping centers located in CT and MA.
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.