AUSTIN, Texas — CBRE National Senior Housing has arranged an $18.2 million refinancing for Village on the Park Onion Creek, a Class A 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.
Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing arranged the 10-year, floating rate loan with five years of interest-only payments through the Freddie Mac Optigo lending platform.
The operator is The Aspenwood Co., Bridgewood’s wholly owned management platform.