Updated Jul 8, 2026
Rockland Recovery Group Secures $11 Million Loan From Jeffrey J. Tengel For Hospital Redevelopment
329 Bishops Highway
$11,000,000
Building Size
—
Asset Type
Hospital
Closing
Jun 25, 2026
About this deal
AI
The property asset involved in this transaction is a hospital situated at 329 Bishops Highway in Kingston, MA. The asset spans an area of 23 acres and will be transformed into Longview Behavioral Health, which will include both inpatient and outpatient services.
Summary of transaction details:
- Property Type: Hospital
- Transaction Amount: $11,000,000
- Lender: Jeffrey J. Tengel - Rockland Trust
- Landlord: Rockland Recovery Group
This transaction involves significant redevelopment plans for the former Sacred Heart School campus, with phased openings scheduled to begin in late 2026 and full completion anticipated in 2027.
On the Map
$11,000,000
Hospital
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Players
Kingston Hospital Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93