Rockland Trust Finances $9.1 Million towards Community Alternative Residential Environments and Walnut Street Center

Rockland, MA. – June 29, 2016 - Rockland Trust announced it has financed a $9.1 million transaction for Community Alternative Residential Environments, Inc. (CARE) and Walnut Street Center, Inc. (WSC) The funding is for the purchase and renovation of their new location in Medford.

CARE, Inc. operates facilities for the Walnut Street Center, a nonprofit that grants adults with developmental disabilities the opportunity to live a more meaningful life through a wide array of services, including residential, individual, respite, day habilitation, along with community and employment based programs. Prior to this, the organization was located in Somerville.

The new 42,500-square-foot facility will better support the organizations’ services through cutting edge technology and creative space. These upgrades include sensory rooms, spaces for media, learning, rehabilitation, music and movement, and an art room. The new facilities will also provide for autism care as well as house the organizations’ corporate offices.

“We are excited to finance this transaction for CARE and the Walnut Street Center,” said Lawrence Venezia, First Vice President of Commercial Lending at Rockland Trust. “We are proud to help provide a new home for an organization dedicated to improving the lives of others.”

“We are grateful to Rockland Trust for helping us take this important step in relocating our office.” said Walnut Street Center, Inc. Chief Operating Officer Carolyne Guffey. “This move will allow us to enhance our services, and is crucial to the growth of our organization.”

The financing was also made possible in part by MassDevelopment, which issued a $9.1 million tax-exempt bond on behalf of CARE, Inc.

Rockland Trust’s Commercial Banking Group has more than 50 commercial lenders and 11 lending centers throughout Massachusetts and Rhode Island. With a lending capacity of more than $75 million, the Commercial Banking Team has broad experience in areas such as asset based lending, commercial real estate, construction and land development, equipment financing, commercial mortgages, and low income housing loans. In addition, 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 Rockland Trust

Independent Bank Corp. has approximately $7.2 billion in assets and is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust offers a wide range of banking, investment, and insurance services to businesses and individuals through retail branches, commercial lending offices, investment management offices, and residential lending centers located in Eastern Massachusetts and Rhode Island, as well as through telephone banking, mobile banking, and the Internet. Named in 2015 to The Boston Globe’s “Top Places to Work” list for the seventh consecutive year, Rockland Trust was rated the top Largest Employer to work for in Massachusetts. The Company is also an FDIC member and an Equal Housing Lender. To find out why Rockland Trust is the bank “Where Each Relationship Matters®”, please visit