Washington Trust's Commercial Real Estate Group provided $8.6 million to Ridgebury Office Investment, LLC, for the refinancing of a class A, low-rise office property.
The property, located at 44 Old Ridgebury Rd., is within easy access to I-84 and Highway 6, in close proximity to Danbury Municipal Airport. Sitting on an 8-acre property, the four-story complex consists of 126,107 s/f of office space, including 12 separate tenant spaces, a newly redesigned lobby and a landscaped outdoor seating plaza. The building is rated a class A business setting, the most prestigious rating for an office structure, based on premier standards of quality, state-of-the-art systems, exceptional accessibility and strong market presence.
"With its close proximity to New York, Fairfield County is an attractive destination for businesses to centralize their headquarters and regional offices," said Joseph MarcAurele, Washington Trust chairman and chief executive officer. "The office building in Danbury provides an excellent opportunity for further growth in the regions rich business economy."
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.