CT Mixed-Use Center Lands $7M Refi

Washington Trust has secured financing for the Waterchase Center in Rocky Hill, Conn., which features 107,654 square feet of retail and office space.

Waterchase Shopping Center in Rocky Hill, Conn.
Waterchase Shopping Center in Rocky Hill, Conn.

Washington Trust’s Commercial Real Estate Group has secured a $7.4 million loan to an entity managed by Woodgreen Management Inc., for the refinancing of Waterchase Center in Rocky Hill, Conn. The property, located in in southern Hartford County, encompasses 107,654 square feet of retail and office space. The transaction follows the firm’s November 2017 provision of a $22.5 million loan for the refinancing of a 121,487-square-foot office and flex portfolio in Newton, Mass.

The commercial center, built in 1988 and renovated in 2012, is located at 30 Waterchase Drive, on the northern edge of Rocky Hill. The site, which is adjacent to Interstate 91, is within an 11-minute drive south of central Hartford, while Middletown is ten miles away. Waterchase Center is surrounded by Wethersfield, Berlin, Newington and Glastonbury.

The property offers six tenant spaces, ranging from 6,574-56,850 square feet. On-site tenants include Porter and Chester Institute; DaVita HealthCare Partners; Namco Pool, Patio & Game Room Superstore; and Connecticut GI.

Image via Google Street View