Rockland Trust has provided more than $13 million in financing to MAB Community Services for the purchase of 16 group homes MAB has been leasing to provide housing for 80 people with disabilities.
MAB has leased some of the properties for 18 years, and the transaction will let MAB control costs associated with their services, Rockland Trust said in a statement last week.
“By financing the purchase of these houses, Rockland Trust is allowing MAB to stabilize the housing of more than 80 individuals with intellectual disabilities and brain injuries,” Barbara Salisbury, MAB Community Services’ CEO, said in the statement. “This is about allowing vulnerable people to remain in their homes; it’s more than a real estate transaction.”
MAB was once known as the Massachusetts Association for the Blind and now works with people with a wider range of disabilities. The properties are in Belmont, Brookline, Dedham, Hyde Park, Newton, Roslindale, West Roxbury and Westwood.
“As a community-oriented bank, Rockland Trust is always looking for opportunities to invest in the neighborhoods we serve,” David Lawson, vice president and commercial loan Officer at Rockland Trust, said n the statement. “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.”