MassDevelopment has issued $25 million in tax-exempt bonds on behalf of High Point Treatment Center, Inc., providing fresh capital for the behavioral health provider to upgrade and expand its footprint in southeastern Massachusetts. High Point delivers mental health and substance use disorder services and will direct the bond proceeds toward improving its facilities in Barnstable, Brockton, and Plymouth, as well as broadening its service offerings and capacity to serve additional clients.
The bonds were purchased by Rockland Trust, giving High Point access to a lower cost of capital than would typically be available through conventional taxable financing. The tax-exempt structure reduces borrowing costs, which can be particularly important for nonprofit healthcare and social service organizations that rely on a mix of reimbursements, grants, and public funding streams. In addition, the capital stack incorporates a New Markets Tax Credit allocation from Massachusetts Housing Investment Corporation, further enhancing the efficiency of the financing.
State officials framed the transaction as part of a broader effort to strengthen behavioral health infrastructure. Economic Development Secretary Eric Paley, who chairs MassDevelopment’s board of directors, emphasized that organizations such as High Point Treatment Center are key to expanding access to care for residents facing mental health and substance use challenges. He noted that the investment is intended to increase access to services across southeastern Massachusetts, aligning the financing with statewide policy priorities around behavioral health and substance use treatment.
On the real estate side, High Point plans to use a portion of the bond proceeds to acquire and renovate properties in Barnstable and Brockton. These improvements are expected to support expanded programming and potentially higher patient volumes at those locations, though specific project scopes and timelines were not disclosed. The organization will also invest in its existing facility at 1233 State Rd. in Plymouth, where the plan calls for expanding the building to accommodate additional services.
The transaction illustrates how state-backed development finance agencies, local banks, and tax credit investors can collaborate to channel capital into community healthcare assets. By combining tax-exempt bond financing with New Markets Tax Credits, the parties have assembled a capital structure designed to lower financing costs while enabling property acquisition, renovation, and expansion. For the communities served by High Point, the result is intended to be a larger and more modern network of treatment facilities focused on mental health and substance use disorder care.
While detailed loan terms and project budgets were not disclosed, the scale of the $25 million issuance signals a meaningful real estate and infrastructure commitment for High Point’s portfolio. The improvements across multiple locations underscore the role of specialized financing tools in advancing public-health-oriented real estate projects, particularly in regions where demand for behavioral health services continues to grow.
