Washington Trust provides $12.4 million in financing for Norwalk, Connecticut retail plaza

Rhea-AI Summary

Washington Trust (WASH) provided $12.4 million in financing to 390 Westport Avenue, LLC to support a 45,658-square-foot retail plaza in Norwalk, Connecticut.

The center is anchored by Marshalls (TJX), has maintained strong occupancy and cash flow, and the loan was closed in October 2025. Borrower M.F. DiScala has owned the property for more than 40 years and manages a portfolio exceeding 11 million square feet across 11 states and 27 cities.

Washington Trust highlighted this deal as part of its commercial real estate lending activity, which covers construction, refinancing, and acquisitions from several hundred thousand to multi-million dollar loans.

Positive

• $12.4M loan closed in October 2025
• Financing covers a 45,658 sq ft retail plaza
• Property anchored by Marshalls (TJX)
• Borrower portfolio > 11 million sq ft across 11 states

Negative

• None.

WESTERLY, R.I., Nov. 18, 2025 /PRNewswire/ -- Washington Trust recently provided $12.4 million in financing to 390 Westport Avenue, LLC for a 45,658-square-foot retail plaza located in Norwalk, Connecticut.

The shopping center is anchored by Marshalls, an apparel and home fashion store owned by Fortune 100 company TJX, and has maintained strong occupancy and cash flow over time.  M.F. DiScala has owned 390 Westport Avenue, LLC for more than 40 years and the property continues to deliver solid results in a prime location.

"This transaction underscores our focus on financing strong, well-performing assets," said Washington Trust Senior Vice President and Commercial Real Estate Team Leader Bethany Lyons. "We were pleased to establish a new relationship with M.F. DiScala and offer a structure that supports their long-standing success in a market we greatly care about and deeply value." 

Washington Trust's Commercial Real Estate Group provides financing for the construction, refinancing, or acquisition of investment real estate projects. Loans range from several hundred thousand dollars to multi-million dollar transactions. For more information, contact Bethany Lyons, Senior Vice President and Team Leader, Washington Trust Commercial Real Estate, at 401-348-1538 or visit https://www.washtrust.com/commercial.

M.F. DiScala, headquartered in Norwalk, Connecticut, operates across 11 states and 27 cities, with a portfolio exceeding 11 million square feet of commercial property. The firm focuses on acquiring, developing, managing and leasing warehouse and distribution facilities and commercial properties, currently managing more than 60 properties nationwide.

Washington Trust closed the loan in October 2025.

ABOUT WASHINGTON TRUST ^®
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. In 2025, Washington Trust reached a milestone of 225 years in operation, marking its commitment to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.

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SOURCE The Washington Trust Company

FAQ

What financing did Washington Trust (WASH) provide for the Norwalk retail plaza?

Washington Trust provided a $12.4 million loan to 390 Westport Avenue, LLC for the Norwalk retail plaza.

When was the Washington Trust loan for 390 Westport Avenue closed?

The loan was closed in October 2025.

How large is the retail plaza financed by Washington Trust (WASH)?

The financed retail plaza is 45,658 square feet.

Who anchors the Norwalk retail plaza financed by Washington Trust?

The shopping center is anchored by Marshalls, a TJX-owned apparel and home fashion store.

What is M.F. DiScala's property footprint mentioned in the financing announcement?

M.F. DiScala manages a portfolio exceeding 11 million square feet across 11 states and 27 cities.

What types of loans does Washington Trust's Commercial Real Estate Group offer?

The group provides financing for construction, refinancing, or acquisition of investment real estate from several hundred thousand to multi-million dollar loans.