JLL Capital Markets has arranged $35.1 million in construction financing for Benchmark at East Brunswick, an assisted living and memory care development planned in East Brunswick, NJ. The financing supports a new senior housing community that is being advanced by a joint venture between National Development and an affiliate of Benchmark Senior Living.
The joint venture’s project is designed as an 87-unit, 100-bed community focused on assisted living and memory care. JLL was engaged to source the construction loan and led a broad marketing effort to the lending community. According to JLL, the process generated numerous quotes from a wide range of capital providers before a prominent regional bank was selected as the lender.
The planned property will rise three stories and encompass 84,276 square feet. The community’s residential program will include 62 assisted living apartments and 25 memory care apartments, supporting a total of 100 licensed beds. The unit mix is intended to accommodate residents with varying levels of care needs within the same development.
Project plans call for interiors and common areas that are described as being designed to high standards, with premium finishes in the residential units. The building will also offer a set of on-site amenities tailored to senior living residents. These will include multiple dining venues, a theater, a fitness center, a salon and a variety of outdoor spaces for resident use.
Benchmark Senior Living, identified as a leading senior living provider in the Northeast, is participating in the venture through an affiliate. National Development is described as a prominent real estate investment, development and management firm. Together, they are positioning Benchmark at East Brunswick as a purpose-built assisted living and memory care community within the regional senior housing landscape.
The community is expected to open in 2028, following the completion of construction financed by the newly arranged loan. The combination of a competitive lender selection process, a regional bank capital source and a dedicated senior housing design underscores the project’s positioning within the assisted living and memory care segment.
