Drew Company Receives $27.6 Million in Financing from Rockland Trust for SkySail at Driftway, a New Residential Project in Scituate, MA

Boston, Massachusetts, Dec. 10, 2021 (GLOBE NEWSWIRE) — Scituate, MA (December 9, 2021) – The Drew Company – a Boston-based, privately held, real estate development and management company – recently closed with Rockland Trust Bank on a $27.6 million construction loan for the residential real estate project, SkySail at Driftway. SkySail at Driftway is  a 109,842 gross square foot luxury mixed-use development located at 100-108 Old Driftway and 318 New Driftway in Scituate, Massachusetts. The project consists of six buildings with 78 rental units including twelve income-restricted units, 8,914 square feet of retail and commercial space, and 160 parking spaces. The development is conveniently located adjacent to the MBTA Greenbush Commuter Rail Line and just minutes from Scituate Harbor.

“The Drew Company is excited for this opportunity to partner with Rockland Trust Bank. Their loan enables us to expand our work on the South Shore of Massachusetts with this project, intended to enhance the vibrant community in Scituate and bring a best-in-class residential experience with complimentary amenities to the area. The project will also bring innovative features both indoor and outdoor to provide a productive work-live environment as well as ease of access to transportation options to and from Boston,” said John P. Drew, President, Drew Company.

“Rockland Trust is pleased to work with Drew Company to support this local expansive project,” said John Davison, First Vice President and Commercial Lending Center Manager at Rockland Trust. “These Scituate residences and retail spaces make living and owning a business in an extremely desirable area more attainable which will strengthen both our community and local economy.”

About Drew Company
For 35 years, Drew Company has been boldly transforming properties, neighborhoods and the cities in which it operates with a diverse portfolio of visionary commercial, residential and mixed-use real estate projects. Headquartered in Boston, MA, Drew Company is a privately held, real estate development, management and consulting firm which oversees a broad range of ventures spanning real estate, hospitality, technology and entrepreneurial investment. Perhaps best known for its effective and collaborative approach in managing complex public-private partnerships, Drew Company has developed and operates hospitality venues, convention and exhibition centers, luxury high-rise residential properties, entertainment facilities and global trade centers worldwide. Drew Company has been involved in the development of over ten million square feet of commercial space since 1982. Learn more at drewcompany.com.

About Rockland Trust’s Commercial Banking Group
Rockland Trust’s Commercial Banking Group has more than 80 commercial lenders and 20 lending centers throughout Massachusetts and Rhode Island. With a lending capacity of up to $75 million, the Commercial Banking Team has broad experience in asset-based lending, dealer financial services, commercial real estate, construction and land development, equipment financing, commercial mortgages, and low-income housing loans. Also, the team can meet all the financial needs of its customers with additional services such as business deposit products, merchant and foreign exchange services, and cash management services.

About INDB and Rockland Trust
Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust was named to The Boston Globe’s “Top Places to Work” 2021 list, an honor earned for the 13th consecutive year. In 2021, Rockland Trust was ranked the #1 Bank in Massachusetts according to Forbes World’s Best Banks list for the second year in a row. Rockland Trust has a longstanding commitment to equity and inclusion. This commitment is underscored by initiatives such as Diversity and Inclusion leadership training, a colleague Allyship mentoring program, and numerous Employee Resource Groups focused on providing colleague support and education, reinforcing a culture of mutual respect and advancing professional development, and Rockland Trust’s sponsorship of diverse community organizations through charitable giving and employee-based volunteerism. In addition, Rockland Trust is deeply committed to the communities it serves, as reflected in the overall “Outstanding” rating in its most recent Community Reinvestment Act performance evaluation. Rockland Trust offers a wide range of banking, investment, and insurance services. The Bank serves businesses and individuals through over 120 retail branches, commercial and residential lending centers, and investment management offices in eastern Massachusetts, including Greater Boston, the South Shore, Cape Cod and Islands, Worcester County, and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services.