Austin Senior Housing Community Lands $18.2M Refi Loan
CBRE has provided an $18.2 million Freddie Mac loan for the refinancing of Village on the Park Onion Creek, a 124-unit seniors housing community in Austin. The borrower is Bridgewood Property Co.
Located in the established neighborhood of Onion Creek, the 124-unit, majority independent living community sits on a nine-acre campus. The property is near Austin’s Interstate 35 growth corridor, south of downtown, providing access to retail and the surrounding area.
Operated by The Aspenwood Co., the property predominantly offers independent living services, as well as assisted living options.
Aron Will, Tim Root and Michael Cregan of CBRE arranged the 10-year, floating-rate loan, which carried five years of interest-only payments.