JLL arranges $41.1M construction financing for Long Island senior living community

NEW YORK, Jul. 1, 2026 – JLL Capital Markets announced today that it has 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 planned for East Islip, New York.

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

Construction is anticipated to commence on Benchmark at East Islip in July 2026 with completion expected in Q1 2028.

The two-story, 88,000-square-foot 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.

Strategically 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 Highway, the Southern State Parkway 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.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

National Development is a vertically integrated real estate investment, development and management company. One of Boston’s leading firms for over 40 years, it invests throughout the Northeast, helping to shape communities across the region through a legacy of transformative properties. The firm has earned a reputation for delivering long-term value by thoughtfully navigating complexity through the creativity and deep experience of its team. National Development has developed and/or acquired more than 40 million square feet across a diverse range of property types and manages over $6 billion of assets through a series of fully discretionary real estate investment funds. For more information visit natdev.com.

Benchmark is New England’s largest senior living provider with 70 independent living, assisted living, memory care and continuing care communities and more than 7,200 dedicated associates providing compassionate care and outstanding experiences throughout the Northeast. The Waltham, Mass.-based company was founded in 1997 by Tom Grape with the purpose of transforming lives through human connection. Since then, Benchmark has continued to set the industry standard, having won more than 300 local, regional and national awards for its care, programs and as a top workplace. Benchmark has been named one of the Top Places to Work for 18 straight years in The Boston Globe’s annual employee-based survey and received repeated recognition in FORTUNE's Best Workplaces for Aging Services list. In 2026, Benchmark communities received 60 U.S. News & World Report Best of Senior Living excellence awards based on resident and family feedback. For more information, visit benchmarkseniorliving.com.