Updated Jun 18, 2026
National Development And Benchmark Senior Living Secures $35.1 Million Loan For Development Site In East Brunswick
566 Ryders Lane
$35,100,000
Building Size
—
Asset Type
Development Site
Closing
Jun 17, 2026
About this deal
AI
The project located at 566 Ryders Lane in East Brunswick, NJ, is a development site earmarked for a 100-bed assisted living and memory care facility. The asset spans 84,276 square feet and is currently under construction, with an expected completion date in 2028. This construction initiative is backed by a loan amount of $35,100,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $35,100,000
- Address: 566 Ryders Lane
- Market: East Brunswick, NJ
- Asset Size: 84,276 square feet
- Loan Type: Construction
- Landlord: Tom Grape - Benchmark Senior Living
- Landlord: Brian Kavoogian - National Development
- Broker: JLL
National Development and Benchmark Senior Living are the key players in this transaction, having successfully secured construction financing arranged by JLL. The financing was provided by a regional bank lender, reflecting the strong investor demand for senior housing facilitated by favorable demographic trends.
On the Map
$35,100,000
Development Site
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Players
Paramus Development Site Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93