JLL Arranges $41.1M Construction Loan for Benchmark Senior Living Project in East Islip, NY
NEW YORK — July 1, 2026 — JLL Capital Markets has arranged $41.1 million in construction financing from a regional bank for Benchmark at East Islip, a planned 90-unit assisted living and memory care community in East Islip, New York. The loan was secured on behalf of a joint venture between National Development and an affiliate of Benchmark Senior Living.
Construction is expected to begin in July 2026, with completion anticipated in the first quarter of 2028.
Project Details: Assisted Living and Memory Care on Long Island's South Shore
Benchmark at East Islip will be a two-story, 88,000-square-foot community in East Islip, New York. The development will include 64 assisted living apartments and 26 memory care apartments across 104 licensed beds.
Planned amenities include multiple dining venues, a theater, a fitness center, a salon, and a variety of outdoor spaces. The community will feature premium unit finishes throughout.
Location and Market Demand in Suffolk County
East Islip is located within Suffolk County, near waterfront amenities along the Great South Bay. The site offers access to Sunrise Highway, the Southern State Parkway, and the Long Island Rail Road, providing regional connectivity and access to New York City.
JLL cited demographic trends as a key driver of the project's rationale. The local population aged 75 and older is projected to grow nearly 20 percent over the next five years, according to the firm's announcement.
"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."
Sponsors: National Development and Benchmark Senior Living
National Development is a Boston-based, vertically integrated real estate investment, development, and management firm with more than 40 years of operating history. The firm has developed or acquired more than 40 million square feet of property across a range of asset types and manages over $6 billion in assets through a series of discretionary real estate investment funds. Its investment focus spans the Northeast.
Benchmark Senior Living is described as New England's largest senior living provider, operating 70 communities — spanning independent living, assisted living, memory care, and continuing care — with more than 7,200 associates across the Northeast. The Waltham, Massachusetts-based company was founded in 1997. In 2026, Benchmark communities received 60 U.S. News & World Report Best of Senior Living excellence awards based on resident and family feedback.
Capital Markets Context
JLL Capital Markets, which has more than 3,000 specialists in offices across nearly 50 countries, led the debt advisory process for the transaction. The firm's Seniors Housing Capital Markets team ran a competitive lender marketing process that drew interest from multiple lending sources before a regional bank was selected to provide the $41.1 million construction facility.
Benchmark at East Islip is expected to open in early 2028, targeting the assisted living and memory care needs of an aging population in Suffolk County.
Sources
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