ROCKLAND TRUST PROVIDES $8M LOAN FOR CONSTRUCTION OF ARBORETUM PLACE

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JAMAICA PLAIN, MASS. — Rockland Trust has provided $8 million in financing to APW LLC & APV Realty LLC for the development of Arboretum Place in Jamaica Plain, a suburb of Boston. The credit facility includes a $2.1 million construction loan and $5.9 million in construction financing that was converted to a permanent mortgage through Rockland Trust’s New Markets Tax Credit program. The mixed-use property spans 40,000 square feet and is located at 3815 and 3840 Washington St. Tenants include Harvest Co-op Market, Boston Cat Hospital, Summer Search, Massachusetts Society for the Prevention of Cruelty to Children and Dane Street LLC. Construction on Arboretum Place began in October 2011 and was completed in early 2013.

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