Long Island Senior Housing Secures $29M Loan
JLL Capital Markets arranged the financing through Live Oak Bank.
Sculptor Real Estate and Benchmark Senior Living have secured $29 million in financing for Whisper Woods of Smithtown, a 101-unit senior housing community in Smithtown, N.Y. JLL Capital Markets arranged the three-year loan provided by Live Oak Bank.
Completed in 2018, the Class A community incorporates studios, one- and two-bedroom floorplans. The common-area amenities include a fitness center, a wellness center, a library, a recreation room, a game room, a bistro, a hair salon, an all-season porch, outdoor courtyards and walking paths. Units feature large windows, biometric medication safes and accessible bathrooms with roll-in showers and enhanced safety features.
Whisper Woods provides assisted living, memory care and independent living options. The community also features personalized care, concierge services, housekeeping services, scheduled transportation, chef prepared menus, private dining and medically certified staff.
Located at 71 St. Johnland Road, Whisper Woods is in Long Island’s Suffolk County. The property is adjacent to St. Catherine of Siena Hospital and within 2 miles of Suffolk County Park and Caleb Smith State Park.
Managing Director Joel Mendes, Senior Managing Director Ted Flagg and Senior Director Stephen Van Leer led the JLL team which worked on behalf of the borrowers.
At the beginning of this year, a JLL Capital Markets Debt Advisory team led by Director Alanna Ellis arranged $51.8 million in financing for the construction of Ativo of Albuquerque, a 144-unit senior living community in Albuquerque, N.M.