National Development is expanding its senior housing portfolio with its first investments in both New Jersey and Long Island, respectively. In partnership with Benchmark Senior Living, the firm broke ground on a new 86-unit assisted living and memory care community in Scotch Plains. Additionally National has acquired Whisper Woods of Smithtown, a highly regarded 125-bed assisted living and memory care facility in Suffolk County, NY.
Project financing for both assets was provided by Live Oak Bank of Wilmington, NC.
National Development, based in Newton, MA, is a long-time industry leader in senior housing. Its portfolio includes a variety of living options including independent living, assisted living, and memory care in its developments which span from Boston to New York.
With the acquisition of 4.6 acres in Scotch Plains National Development and Benchmark Senior Living plan to deliver a best-in-class, 86-unit assisted living and memory-care facility comprised of 63 assisted living units and 23 memory care units. The Scotch Plains property will feature a designated memory care floor outfitted with a dedicated dining area, lobby, courtyard, living room, expansive terrace, laundry facilities, salon and clubroom. The assisted living section of the building will similarly have its own in-house fitness facility, salon, theatre, sports lounge and multi-purpose room. The senior living facility broke ground in January 2025 and is expected to be completed in Summer 2026.
“These properties represent National Development’s ongoing commitment to the senior living sector,” Andrew Gallinaro, chief investment officer at National Development said. We expect to continue to add to our pipeline throughout the northeast in 2025. We are very fortunate to be able to partner with Benchmark Senior Living, a recognized industry leader with whom we have had a decades-long relationship.”
“Benchmark is pleased to be collaborating with a firm of National Development’s caliber. We are also thrilled to soon bring Scotch Plains residents the high-quality, compassionate care Benchmark has built its reputation on for nearly 30 years,” Benchmark Founder, Chairman and CEO Tom Grape, said.
