JLL Capital Markets placed the capital for Thrive at Roxbury, which will offer 175 units of independent living, assisted living and memory care in Roxbury Township, New Jersey
Key Takeaways
- JLL Capital Markets arranged debt and equity for Thrive at Roxbury, a seniors housing development in Roxbury Township, New Jersey
- Scheduled for completion in December 2028, the community will offer independent living, assisted living and memory care
- Thrive at Roxbury is the second project in the JV between Pike Construction, Gallium Real Estate and Thrive Senior Living.
- Liberty Bank provided the construction loan and AEW Capital Management provided the majority equity
NEW YORK, Nov. 4, 2026 – JLL Capital Markets announced today that it has arranged financing and joint venture equity for the development of Thrive at Roxbury, a 175-unit seniors housing development in Roxbury Township, New Jersey.
JLL’s National Seniors Housing Capital Markets team worked on behalf of the sponsor, a partnership between Pike Construction, Gallium Real Estate and Thrive Senior Living, to secure a construction loan and a majority LP equity investor for the project through sequential competitive processes. The development represents the second project by the sponsor in New Jersey, who has additional projects in planning within the region.
Thrive at Roxbury is scheduled to be completed in December 2028 and will comprise a three-story building offering 100 independent living, 43 assisted living and 32 private memory care units. The community will provide spacious living quarters and upscale amenities, including social and educational programs, multiple all-day dining venues, wellness services, a fitness center, media center, theatre, café and coffee shop and programmed daily activities.
Thrive at Roxbury will serve unmet demand in Morris County with a luxury full continuum of care. Located at 201 NJ-10, the property is surrounded by many affluent pockets of Northern New Jersey, including Chester, Mendham, Denville and Morris. Thrive at Roxbury is proximate to numerous retail developments and has regional access to the greater Tri-State area via Interstate 80 and Route 206.
The development will benefit from outstanding demographics in the surrounding three-mile market, which is home to more than 32,000 seniors with an anticipated growth rate over the next five years of 33.4% for qualified seniors aged 75+.
JLL’s National Senior Housing Capital Markets team representing the borrower was led by Senior Director Jim Dooley.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
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About JLL
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of September 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.
About Pike Construction
Pike Construction, based in Patterson, New Jersey, is a developer and general contractor of all commercial real estate asset classes in the state of NJ since its inception over 65 years ago.
About Thrive Senior Living
Based in Atlanta, Thrive Senior Living is a recognized leader in the senior living industry that has managed 60 communities in 12 states since its inception in 2008.
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