A LANDMARK ADAPTIVE REUSE PROJECT REDEFINING LUXURY SENIOR HOUSING
Distinctive Living announced the successful closing of $84.7 million in Series 2026 Bonds for Peapack Senior Living Inc., advancing the development of CopperWood Senior Living.
Distinctive Living Development will co-develop the landmark adaptive reuse project alongside Melillo Equities and PointsFive, transforming a historic former corporate campus into a luxury senior living destination offering independent living, assisted living, and memory support. Distinctive Living will also manage and operate the community.
The financing, arranged and underwritten by Ziegler, supports the assisted living and memory support portion of the redevelopment, including 66 assisted living residences and 30 memory support residences. Together with an additional planned 118 independent living residences, CopperWood Senior Living will ultimately offer 214 residences and a seamless continuum of care within one gated estate.
Built in 1979 and originally conceived by acclaimed architect J. Robert Hillier, the 480,000-square-foot, 10-building campus is recognized as an important example of early Postmodern design in New Jersey. Its brick-clad buildings, copper-accent roofs, signature 88-foot clocktower, slotted-glass windows and landscaped courtyards will be preserved and adapted for residential life and aging in place.
CopperWood’s interconnected buildings create a collection of intimate residential neighborhoods. Brick archways, enclosed passages, and garden paths link residences and common areas, while a grand circular drive, private entrance and gatehouse reinforce the privacy and sense of arrival associated with a distinguished Somerset County estate.
Residents will enjoy full-service dining overlooking an oversized courtyard, a sports bar, a bistro bar, wellness facilities, a fitness center with pool, spa and sauna, a dog park, walking trail, a performing arts center, and outdoor tennis and pickleball courts, among other amenities. Surface parking, subterranean garages and two structured parking decks provide abundant on-site parking. Two nearby NJ Transit rail stations offer additional connectivity throughout the region.
“CopperWood is not simply another senior living development,” said Joe Jedlowski, Founder and CEO of Distinctive Living. “It is the culmination of a vision to create a destination where hospitality, wellness, architecture, and personalized care exist in perfect balance. We believe this community will establish a new benchmark for luxury senior living, both in New Jersey and across the country.”
Distinctive Living, Pointsfive and Melillo Equities are contracted developer, manager and subordinate bondholders of CopperWood Senior Living. CopperWood’s sponsors, including New York-based Pointsfive and New Jersey-based Melillo Equities, bring a wealth of experience combined with deep local expertise. Pointsfive and Melillo Equities originally purchased the property in 2024 through a discretionary fund and worked to rezone and entitle the property prior to partnering with Distinctive Living to complete design and development of the senior community.
Located directly off Route 206 in Somerset County’s highly affluent wealth belt, CopperWood is positioned to serve older adults seeking luxury senior living with privacy, architectural character and access to higher levels of care. Preserved open space and estate-inspired grounds further distinguish the setting.
“CopperWood represents adaptive reuse at its most ambitious by preserving the architectural character of a landmark Postmodern campus and reimagining it to meet the residential, hospitality and care needs of today’s older adults,” said Chris Hoard, Chief Development Officer of Distinctive Living. “By working within the campus’s distinctive architecture rather than replacing it, we are creating a senior living environment that could never be replicated through conventional ground-up development. Distinctive Living’s integrated development and operating platform allows us to unite historic preservation, sophisticated design and a seamless continuum of care within one extraordinary estate.”
About Distinctive Living
Distinctive Living is a nationally recognized senior living management, development and operations company headquartered in Freehold, New Jersey. The company oversees approximately $2.29 billion in assets across independent living, assisted living, memory support and specialty senior housing communities. Its fully integrated platform supports the entire asset lifecycle from acquisition, planning and development through lease-up, day-to-day operations and long-term performance. Distinctive Living combines experienced, hands-on leadership with data-driven operating systems, business intelligence, institutional-grade financial controls and comprehensive clinical and regulatory oversight. The company’s resident-centered approach encompasses care delivery, team development, sales and marketing, dining, wellness, life enrichment and its signature Moments Matter™ memory support program. Through an ownership-minded operating philosophy, Distinctive Living seeks to create meaningful resident experiences while strengthening occupancy, operational performance and long-term value for its partners. Visit distinctive-liv.com to learn more.
About Peapack Senior Living Inc.
Peapack Senior Living Inc. (“PSL”) is a New Jersey 501(c)(3) not-for-profit organization and owner of CopperWood Senior Living Assisted Living and Memory Care. PSL is dedicated to advancing the care of older adults through the establishment, maintenance and operation of senior living housing, services and programs, including independent living, assisted living, memory support and related supportive services. Distinctive Living will manage and operate CopperWood on PSL’s behalf.
About CopperWood Senior Living
Opening in 2027, CopperWood Senior Living is a luxury senior living destination located at 100 Route 206 in Peapack-Gladstone, New Jersey. Set on a 40-acre gated campus, the 480,000-square-foot, 10-building property will offer 214 residences, including 118 independent living, 66 assisted living and 30 memory support units. CopperWood Senior Living combines the adaptive reuse of an architecturally significant Postmodern estate with graciously appointed living spaces, landscaped courtyards, wellness and dining experiences, concierge-inspired service and a seamless continuum of care. By transforming a celebrated corporate campus into an interconnected residential estate, CopperWood introduces an entirely new model for senior living that could never be replicated through conventional development.
About Melillo Equities
Melillo Equities is an award-winning real estate private equity firm uniquely positioned to disrupt the automobile-dependent culture of New Jersey’s suburban landscape. Through close collaboration with municipal leaders and community stakeholders, the firm works to promote the reemergence of historic town centers as facilitators of economic resilience, community well-being, and social equity. Visit melilloequities.com to learn more.
About Pointsfive
Pointsfive is a full-service real estate investment, development, and advisory firm. Pointsfive is an investor in and operator of value-add, opportunistic, and distress opportunities across all major asset types, focused on the New York City metro area. The firm specializes in complex transactions of all sizes that require innovative design and master planning, creative capital and transaction structuring, public-private partnerships, rezoning, and distressed solutions. Pointsfive currently has approximately 750 units totaling $420 million in construction. Visit pointsfive.com to learn more.
