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Photo courtesy of Darlene DeVita. The MAB group home on Meadowbrook Road in Westwood is one of sixteen such properties financed by Rockland Trust, in a transaction to stabilize housing for disabled individuals.
8-25-2022 12:32am
$13 Million Financing Deal Will Stabilize Group Housing for Disabled Individuals in Westwood and Beyond
Darlene Cancell
Editor
Thanks to Rockland Trust for contributing its news to Westwood Minute.
Rockland Trust announced on August 22, 2022 that it is providing over $13 million in financing to MAB Community Services (MAB) to purchase sixteen group homes, one of which is located on Meadowbrook Road in Westwood. The transaction also includes properties in Dedham, located on Carol Drive and Cass Avenue.
The homes previously were leased in order to house individuals, some of whom MAB has served for as long as eighteen years. MAB’s Adult Disability Services division offers 29 community-based group homes with 24/7 support.
Photos courtesy of Darlene DeVita. Pictured above is the MAB group home on Mary Ellen Road in Newton (left) and the MAB group home on Blanchard Road in Belmont (right).Formerly known as the Massachusetts Association for the Blind, MAB is the nation’s oldest social service agency assisting individuals with blindness or visual impairment. Over time, MAB has grown to serve people with a wider range of disabilities. It serves neurodiverse populations such as those on the autism spectrum, those with behavioral health challenges, and clients with brain injuries.
“By financing the purchase of these houses, Rockland Trust is allowing MAB to stabilize the housing of more than eighty individuals with intellectual disabilities and brain injuries. This is about allowing vulnerable people to remain in their homes; it’s more than a real estate transaction,” said Barbara Salisbury, Chief Executive Officer at MAB Community Services.
“As a community-oriented bank, Rockland Trust is always looking for opportunities to invest in the neighborhoods we serve,” said David Lawson, Vice President, Commercial Loan Officer at Rockland Trust. “We are honored to partner with MAB, financing this critical transaction which supports their mission and aids their ability to create opportunities for individuals with disabilities throughout our community.”
Rockland Trust’s Commercial Banking Group has a lending capacity of over $75 million and more than eighty commercial lenders and twenty lending centers throughout Massachusetts and Rhode Island.
Along with the properties in Westwood and Dedham, the transaction includes thirteen properties in Belmont, Brookline, Hyde Park, Newton, Roslindale, and West Roxbury.
