Greystone Real Estate Advisors Closes Sale of Texas Age-Restricted Community
September 10, 2018
NEW YORK–Greystone Real Estate Advisors announced it closed the sale of The Aspens at Wade Park, a 162-unit age-restricted community in Frisco, TX, August 30. Aspens Senior Living sold the property to a joint venture between The Carlyle Group and Greystar on August 17th. Cody Tremper and Mike Garbers of Greystone represented the seller in the transaction.
The Aspens at Wade Park has an excellent location and accessibility within the affluent Frisco submarket of the Dallas-Fort Worth metroplex. The age-restricted asset type fits a unique niche within the market and provides an affordable alternative to full-service independent living while maintaining Class-A quality and amenities.
Built in 2017, the property sits on a 5.4-acre site with picturesque landscaping, a resort-style pool and spa, private balconies/patios, detached garages, and controlled-access gates. Community amenities include a fitness center, movie theater, salon/barber shop, library, bistro, and outdoor barbeque area.
The Greystone Real Estate Advisors team leveraged its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.