JLL places $41.1 million construction financing for Benchmark at East Islip

East Islip, NY JLL Capital Markets arranged $41.1 million in construction financing from a regional bank for Benchmark at East Islip, a 90-unit / 104-bed assisted living and memory care community.

The financing was arranged on behalf of a joint venture between National Development, a real estate investment development and management firm, and an affiliate of Benchmark Senior Living, a senior living provider in the Northeast.

Construction is anticipated to commence on Benchmark at East Islip this month with completion expected in Q1 2028.

The two-story, 88,000 s/f community will feature 64 assisted living and 26 memory care apartments across 104 licensed beds. The property will be thoughtfully designed to the highest standards, incorporating premium unit finishes and an extensive array of amenities, including multiple dining venues, a theater, fitness center, salon and a variety of outdoor spaces.

Located within Suffolk County, Benchmark at East Islip will serve one of Long Island’s most attractive residential markets. The community benefits from its proximity to waterfront amenities along the Great South Bay, established neighborhoods and major transportation corridors, including Sunrise Hwy., the Southern State Pkwy. and the Long Island Railroad, providing convenient access to New York City. With the local 75+ population projected to grow nearly 20% over the next five years, Benchmark at East Islip is ideally positioned to meet the expanding demand, while delivering best-in-class service and care.

“JLL conducted a highly competitive marketing process, attracting numerous quotes across a variety of lending sources,” said Jim Dooley, senior director within JLL’s seniors housing capital markets team. “There is no lack of demand in the senior housing sector both from a resident standpoint and an investment standpoint, and new product like Benchmark at East Islip will meet the growing demand in the affluent Suffolk County area.”