Photo courtesy of Rockland Trust.

Hajjar Management Co. Inc. has secured $4.5 million in financing from Rockland Trust to acquire The Merchant, a historic inn in Salem. The Merchant will be Hajjar’s 10th boutique hotel, and its first north of Boston, Rockland Trust said in a statement.

“I have done business with Rockland Trust since 1994,” Charles “Chuck” Hajjar, founder and president of Hajjar Management Co., said in the statement. “From the straightforward term sheet to the closing, the whole process is smooth and professional.”

Built in the 1780s for sea merchant Joshua Ward, the building was converted to a boutique hotel in Salem’s historic district. The Merchant has the oldest surviving “floating” staircase designed by architect Samuel McIntire, a native of Salem.

“It is always a pleasure working with Chuck and his team at Hajjar Management. Throughout the years, I have seen the team transform historic hotels and inns, always amplifying their story and finding ways to carry through their special traditions,” James P. McGoldrick, senior vice president and regional executive in the commercial lending division at Rockland Trust, said in the statement. “The Merchant is a particularly exciting project for us to be a part of, and we’re honored to work alongside Hajjar Management in their acquisition of this special property.”