Frisco, TX Greystone Real Estate Advisors has closed the sale of The Aspens at Wade Park. The Aspens at Wade Park is a 162-unit, age-restricted community well located and accessible throughout the region.
The Carlyle Group and Greystar purchased the property from Aspens Senior Living with Cody Tremper and Mike Garbers of Greystone representing the seller.
The Aspens at Wade Park offers class-A quality and amenities but at a price more affordable than many area full-service independent living communities, providing it with a distinctive niche.
The Aspens at Wade Park was completed and took first occupancies last year. The community features one-bedroom, one-bath apartments and two-bedroom, two bath residences. Units range in size from 730 to 1,126 square feet.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,