Multi Residential

Lyme Academy Apartments Receives Financing

Old Lyme, CT- Washington Trust’s Commercial Real Estate Group recently provided $2.4 million to Lyme Academy Apartments, LLC, for renovations and permanent financing of a 12-unit apartment complex at 77 Lyme St. in Old Lyme.

The apartments will no longer be rented to Old Lyme Academy students, and will appeal to working professionals, families, and retirees looking to downsize.

The units will be upgraded and renovated with new kitchens, bathrooms, and floors. Each unit is a townhouse style with a one-car garage.

The complex is located in a residential neighborhood and adjacent to the Lyme-Old Lyme Middle School and High School. The neighborhood is situated less than a quarter mile from I-95.

Washington Trust’s Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects.