CBRE secured the refinancing for a seniors housing community in the Austin, Texas MSA, on behalf of Harrison Street. Aron Will and Tim Root handled the transaction, securing a five-year loan from a life insurance company.
Built in 2018, The Village at the Triangle features 208 independent living, assisted living and memory care units. Upon opening, the community leased up to 94% in just 23 months, averaging eight net move-ins per month. Occupancy in 2021 was 97% and grew in 2022 and 2023 to 100%. Occupancy as of September is 100% with a lengthy waitlist. The community is currently operated by The Aspenwood Company.
