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329 Bishops Highway

Rockland Recovery Group Secures $11 Million Loan From Jeffrey J. Tengel For Hospital Redevelopment
FINANCEDHospital

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

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.

Players

Jeffrey J. Tengel

Rockland Trust

Lender

$18.3M

vol

2 deals

Lender
RG
Rockland Recovery GroupLandlord

Kingston Hospital Market Snapshot

Boundary boundary · Hospital · Loan transactions

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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