ACRON opens its third U.S. senior living community in University North Park, Norman, Oklahoma
Zurich, June 23, 2022 – ACRON and its partners MedCore Partners and Integral Senior Living (ISL) are proud to announce the opening of “Sooner Station at University North Park”. This 188-residence senior living community provides independent living, assisted living and memory care facilities in the Oklahoma City suburb of Norman, home to the University of Oklahoma (OU). Thanks to the proximity to the university and a sponsorship affiliation with the OU Alumni Association, Sooner Station residents enjoy exclusive benefits including lecture series, field trips and events. The first residents moved in on June 1, 2022, roughly two years after construction began. Based on a total investment of USD 46.5 million, ACRON is forecasting an internal rate of return (IRR) of 13 percent up to completion of the investment. This ranks Sooner Station among ACRON’s successful U.S. senior living investment series.
Peer Bender, CEO of the ACRON Group: “We believe that senior living communities in the United States will continue to have strong appeal both as real estate and as an investment, and the steadily rising occupancy rates support that claim. As a primarily demographic and demand-driven business, the senior living segment promises to be resilient even in a broader recessionary climate. That is particularly true if you partner with strong players like MedCore Partners and Integral Senior Living and deliver projects that outperform the competition.”
Sooner Station at University North Park (https://soonerstation.com/) sets itself apart from local competitors with its high-standard amenities. Advantages for residents include a hotel service, upscale cuisine, a bistro and a sports bar, an education center, a spa, a state-of-the-art gym, club rooms, a movie theater, a meditation garden and a pool in the center courtyard. At present, the only other comparable thee-level care facility in the Norman area dates back to 1986.
The senior living community is located in Norman, a small city just outside Oklahoma City, which is home to around 128,000 residents. Sooner Station was built as part of a large new development known as University North Park. Once finished, this neighborhood promises to be highly attractive for the greater metropolitan area and beyond with its 10,000-seat multi-purpose arena, 225-room hotel, just under 56,000 square meters of office space, 283 single-family homes, 1,250 apartments, 35,000 square meters of high-tech manufacturing space, 14,000 square meters of restaurant and entertainment space as well as roughly 61,000 square meters of green space and a park
Further proof of ACRON’s specialist expertise in the U.S. market, for decades one of the group’s home markets, was furnished when the U.S. News & World Report recognized ACRON’s second U.S. senior living investment - “The Villages of Windcrest” in Fredericksburg, Texas – as a 2022-2023 Best Memory Care community. And ACRON already has the next U.S. senior living project in the pipeline: “Spring Cypress Senior Living” in Houston, Texas, is currently in the subscription phase.
ACRON at a glance
Founded in Düsseldorf in 1981, the ACRON Group specializes in real estate investments and has been headquartered in Zurich, Switzerland, since 1988. All of ACRON’s real estate projects are based on a single-asset structure and are sold in Switzerland, Germany, Austria, and the United States. The company’s transaction volume amounted to CHF 2.28 billion in May 2022. ACRON’s clients are individual private investors, institutional investors, and families from around the world. The ACRON Group’s headquarters are located in Zurich (Switzerland) with subsidiaries in Düsseldorf (Germany); Luxembourg; Dallas (USA); and Sâo Paulo (Brazil). www.acron.de, www.acron.ch
Peer Bender, ACRON AG, Zurich, Switzerland
+41 44 204 34 00
Tabea Müller, ACRON GmbH, Düsseldorf, Germany
Head of Marketing
+49 211 912 41 02