Greystone Real Estate Advisors Closes Sale of Texas Age-Restricted Community

NEW YORK, Aug. 30, 2018 (GLOBE NEWSWIRE) — Greystone Real Estate Advisors announced it closed the sale of The Aspens at Wade Park, a 162-unit age-restricted community in Frisco, TX. 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.

About Greystone Real Estate Advisors, Inc.
Greystone Real Estate Advisors, Inc. provides services in sales and acquisitions of seniors housing property types including independent living, assisted living, memory care and skilled nursing, as well as affordable and multifamily properties. The team offers a full spectrum of advisory services including debt, acquisition, and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs. For more information, visit www.greycoadvisors.com.

About Greystone
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.

About Aspens Senior Living
Aspens Senior Living, based in Fort Worth, Texas, is a developer of class A, market-rate independent living communities. Through their research of trends within the senior demographic, and development of Aspens communities, they have identified a wide gap in affordability in the typical offerings in seniors housing. This gap in affordability is the niche opportunity in which Aspens Senior Living is developing. The gap in affordability results in an opportunity to serve the middle-income senior, the largest segment of the senior population. For more information, visit www.AspensSeniorLiving.com.

Karen Marotta

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