Washington Trust Finances Major Retail Plaza
Washington Trust has recently stepped up to provide a significant $12.4 million in financing to support a retail plaza project. This 45,658-square-foot retail center, located at 390 Westport Avenue, is a testament to Washington Trust's commitment to invigorating thriving business locales. By partnering with 390 Westport Avenue, LLC, Washington Trust is investing in a property that boasts a solid record of occupancy and performance.
Key Features of the Retail Plaza
The retail plaza is anchored by Marshalls, known for its extensive range of apparel and home fashion products as part of the Fortune 100 company, TJX. The center has demonstrated resilience in its occupancy rates and continues to generate strong cash flow, making it an attractive investment. M.F. DiScala, the owner of 390 Westport Avenue, LLC for over four decades, ensures that the site maintains its reputation for delivering robust results.
Washington Trust's Strategic Financing Approach
Washington Trust emphasizes its focus on financing high-quality, well-performing assets. Senior Vice President and Commercial Real Estate Team Leader, Bethany Lyons, expressed delight in establishing a collaboration with M.F. DiScala. Bethany noted, "We are proud to partner with firms committed to their communities and look forward to supporting their long-term success. This project is one such example in a market that we hold in high regard." Washington Trust aims to empower projects that bring lasting value to the regions they serve.
Comprehensive Real Estate Financing Solutions
Washington Trust's Commercial Real Estate Group is dedicated to enabling construction, refinancing, or the acquisition of investment properties. Their loan offerings vary from modest amounts to multi-million dollar transactions. This flexible approach allows more businesses to capitalize on prime real estate opportunities. To learn more, interested parties can connect with Bethany Lyons directly or visit Washington Trust's commercial banking webpage.
M.F. DiScala's Expansive Operations
Headquartered in a strategic location, M.F. DiScala operates in 11 states across 27 cities, boasting an impressive portfolio exceeding 11 million square feet of commercial property. The firm specializes in the acquisition, development, management, and leasing of warehouse and distribution facilities, showcasing a diverse and growing real estate footprint of over 60 properties nationwide.
The Significance of This Financing
In October of 2025, Washington Trust successfully finalized the financing for this project, marking a significant achievement in their lending portfolio. Their long history and ethical approach reinforce their position as a reliable partner in commercial real estate financing. Washington Trust is recognized as the oldest community bank in the U.S. and strives to enhance the economic landscape in New England.
About Washington Trust
Founded in 1800, Washington Trust is the largest state-chartered bank headquartered in Rhode Island. In 2025, Washington Trust celebrated 225 years of service, reflecting its commitment to improve the financial lives of individuals and organizations across the region. The bank offers a broad spectrum of financial services, including commercial banking, mortgage banking, personal banking, and wealth management through various accessible digital tools and physical branches.
Frequently Asked Questions
What is the purpose of the financing provided by Washington Trust?
The financing aims to support the development and operation of a retail plaza, enhancing commercial activity in the area.
Who is the main tenant of the retail plaza?
Marshalls serves as the anchor tenant, offering a range of apparel and home fashion products.
How long has M.F. DiScala owned the property?
M.F. DiScala has owned the property for over 40 years.
What types of real estate financing does Washington Trust offer?
Washington Trust provides financing for construction, refinancing, and acquisition of investment properties, ranging from small to large-scale transactions.
What is the historical significance of Washington Trust?
Washington Trust is the oldest community bank in the U.S., established in 1800, and has served New England for over two centuries.
