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Washington Trust Refinances Reading Rite Aid

Feb 18, 2016 | Reprints | Unlock Link | Print

A New York-based real estate investment company recently refinanced a Reading Rite Aid with a $2.82 million loan from Washington Trust.

AKM Corp., a single asset entity and subsidiary of United Capital Corp. in Great Neck, New York, owns the Rite Aid pharmacy at 15 Bolton St. in Reading. The property includes a 13,426-square-foot building on a 1.5-acre parcel of land. It was built in 1997 and renovated in 2008 to accommodate the Rite Aid, which leases the property.

“We were very pleased to expand our relationship with United Capital with this well located property,” Julia Anne M. Slom, team leader of Washington Trust’s commercial real estate group, said in a statement. “The location is especially strong given that this Rite Aid has the only drive-through pharmacy in Reading.”

Banking & Lending