Live Oak Bank provided financing for the acquisition of Whisper Woods of Smithtown by a joint venture between National Development and Benchmark Senior Living. The previous owner, Sculptor Real Estate, refinanced the property in 2023. Live Oak provided that $29 million loan as well.
Built in 2018, Whisper Woods is a 125-bed assisted living and memory care community in Suffolk County, New York. There are 71 AL units and 30 MC units across studio, one- and two-bedroom floorplans.
National Development and Benchmark also recently broke ground on an 86-unit (63 AL and 23 MC) seniors housing community in Scotch Plains, New Jersey. This marks the developer’s entry into the state. Opening is expected in the summer of 2026.
