Distinctive Living closes $84.7 million for CopperWood Senior Living

Distinctive Living, Melillo Equities and Pointsfive closed $84.7 million in Series 2026 Bonds to advance CopperWood Senior Living in Somerset County, New Jersey. The project will transform a former corporate campus into a 214-unit luxury senior living community with independent living, assisted living and memory support.

Why it matters: - CopperWood Senior Living is moving ahead as a large adaptive reuse project that converts a historic corporate campus into senior housing. - The plan combines luxury residential amenities with a continuum of care in one gated estate. - The financing supports assisted living and memory support, two of the care levels most in demand as older adults need higher-acuity services.

What happened: - Distinctive Living announced the closing of $84.7 million in Series 2026 Bonds for Peapack Senior Living Inc. - The bond financing advances development of CopperWood Senior Living in Somerset County, New Jersey. - Distinctive Living Development will co-develop the project with Melillo Equities and Pointsfive. - Distinctive Living will also manage and operate the community. - Ziegler arranged and underwrote the financing.

The details: - The bond proceeds support the assisted living and memory support portion of the redevelopment. - The financing covers 66 assisted living residences and 30 memory support residences. - The full CopperWood plan also includes 118 independent living residences. - When complete, the community will have 214 residences in total. - The project is being developed on a former corporate campus built in 1979. - The campus spans 480,000 square feet and includes 10 buildings. - Architect J. Robert Hillier originally designed the campus. - The site is recognized as an important example of early Postmodern design in New Jersey. - The brick-clad buildings, copper-accent roofs, 88-foot clocktower, slotted-glass windows and landscaped courtyards will be preserved and adapted for residential use. - The campus design includes brick archways, enclosed passages and garden paths connecting residences and common areas. - A circular drive, private entrance and gatehouse are part of the estate-style setting. - CopperWood is located directly off Route 206 in Somerset County. - The property includes preserved open space and estate-inspired grounds. - Peapack Senior Living Inc. is a New Jersey 501(c)(3) not-for-profit organization and the owner of CopperWood Senior Living Assisted Living and Memory Care.

Between the lines: - The project leans on adaptive reuse instead of ground-up construction, which can preserve architectural character while reducing the need to start from scratch. - Distinctive Living is positioning CopperWood as a premium product built around hospitality, wellness and care. - Melillo Equities and Pointsfive bought the property in 2024 through a discretionary fund and worked to rezone and entitle the site before partnering with Distinctive Living. - The sponsors bring local and transactional experience to a project that requires zoning, capital structure and historic-site sensitivity. - Distinctive Living oversees about $2.29 billion in assets across independent living, assisted living, memory support and specialty senior housing communities. - Pointsfive has about 750 units totaling $420 million in construction. - Joe Jedlowski, Distinctive Living founder and CEO, said CopperWood is intended to set a new benchmark for luxury senior living in New Jersey and nationally. - Chris Hoard, Distinctive Living chief development officer, said the project shows adaptive reuse at its most ambitious by preserving the campus and reimagining it for today’s older adults.

What's next: - Construction and completion of the assisted living and memory support components will move forward with the new bond financing in place. - The independent living residences remain part of the broader planned buildout. - Distinctive Living, Melillo Equities and Pointsfive will continue development toward a single campus offering multiple care levels.

The bottom line: - CopperWood is being built as a high-end senior living campus that pairs preservation with care delivery, and the $84.7 million financing gives the project its next major push.