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Washington Trust Provides $12.5 Million in Financing for Off-Campus Student Housing Complex Adjacent to the University of Connecticut

WESTERLY, R.I., May 11, 2016 (GLOBE NEWSWIRE via COMTEX) --

Washington Trust's Commercial Real Estate Group WASH, -0.75% recently provided $12.5 million to Celeron Square Associates, LLC, for the refinancing of an off-campus student housing complex adjacent to the University of Connecticut in Storrs, Connecticut.

Located at 180 Hunting Lodge Road in Storrs, the apartment complex, known as Celeron Square Apartments, was built between 1985-1987. The complex consists of 22 buildings containing 160 garden-style apartment units, with 416 beds, on a 20-acre parcel. Each building contains eight units, four per floor. The mix of units includes 40 one-bedroom units containing 80 beds, 56 two-bedroom units containing 144 beds and...


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