Senior Living Dealbook: Benchmark, National Development Acquire New York Site; Asbury Place Maryville Rebrands

Transactions

Benchmark, National Development acquire New York site

Benchmark Senior Living and National Development announced the acquisition and financing of a property in East Islip, New York.

The site will be developed into Benchmark at East Islip, a 90-unit assisted living and memory care community, planned to open in 2028, according to a press release.

It will be Benchmark and National Development’s second community in New York.

Independent California owner sells community

Evans Senior Investments announced it sold Piner’s Nursing Home and Piner’s Guest Home on behalf of an independent owner in Napa, California.

The combined campus encompasses 49 licensed skilled nursing beds and 28 assisted living beds across a separate guest home building, according to a press release.

This is the buyer’s first acquisition in the skilled nursing and senior housing industry, according to the release.

32-unit Utah community under new ownership

Senior Living Investment Brokerage facilitated the sale of a 32-unit community in Farmington, Utah.

The seller was a Utah-based regional owner-operator and developer of the community, and the buyer was a California-based seniors housing real estate investment firm, who added the community as “a strategic addition to its growing portfolio,” according to a press release.

The seller will remain in place as the property’s manager.

Financings

$41M construction financed for Benchmark community

JLL Capital Markets announced it arranged $41.1 million in construction financing for Benchmark at East Islip.

Construction on the community is anticipated to begin this month, according to a press release.

The two-story, 88,000-square-foot community will feature 64 assisted living and 26 memory care apartments across 104 licensed beds, according to the release.

Rebrandings

Asbury Place Maryville returns to not-for-profit

Effective July 1, Asbury Place Maryville has rebranded to Asbury Ridge, A HutsonWood Life Plan Community, and returned to being a not-for-profit.

The community was acquired and operated as a for-profit location from December 2023 through November 2025, according to a press release.

“Returning Asbury Ridge to not-for-profit status was central to why we pursued this community,” Douglass Smith, president and CEO of HutsonWood, said in the release.

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