Drew Co. receives $27.6 million in financing from Rockland Trust

Scituate, MA The Drew Company, a Boston-based, privately held, real estate development and management company, closed with Rockland Trust Bank on a $27.6 million construction loan for the residential real estate project, SkySail at Driftway. SkySail at Driftway is a 109,842 s/f mixed-use development located at 100-108 Old Driftway and 318 New Driftway. The project consists of six buildings with 78 rental units including twelve income-restricted units, 8,914 s/f of retail and commercial space, and 160 parking spaces. The development is located adjacent to the MBTA Greenbush Commuter Rail Line and close to Scituate Harbor.

“The Drew Company is excited for this opportunity to partner with Rockland Trust Bank. Their loan enables us to expand our work on the South Shore of Massachusetts with this project, intended to enhance the vibrant community in Scituate and bring a best-in-class residential experience with complementary amenities to the area. The project will also bring innovative features both indoor and outdoor to provide a productive work-live environment as well as ease of access to transportation options to and from Boston,” said John Drew, president, Drew Company.

“Rockland Trust is pleased to work with Drew Company to support this local expansive project,” said John Davison, first vice president and commercial lending center manager at Rockland Trust.

“These Scituate residences and retail spaces make living and owning a business in an extremely desirable area more attainable which will strengthen both our community and local economy.”