ACRON Places Its Third US Senior Living Residence Project with Investors
Zurich, Switzerland; September 7, 2021 - ACRON has placed its entire senior living project, The Hacienda at Georgetown, which is under construction near Austin, Texas (USA), with investors as a club deal. Investors participated in the project through a Swiss stock corporation. Construction began on the state-of-the-art, 230-unit senior living facility in October 2020, and it is expected to open in fall 2022. ACRON puts the total investment at USD 85.5 million with a forecasted internal rate of return (IRR) of 14 percent up to completion of the investment. ACRON Sun City Senior Living is part of ACRON’s successful U.S. senior living investment series. Two projects have already been completed in this asset class: ACRON Villages of Windcrest (operating since 2020) and ACRON Oklahoma UNP (under construction).
According to Peer Bender, CEO of the ACRON Group, “Senior living facilities are a growing market segment in the United States supported by the demographic trend of an aging population. We therefore see continual demand by potential tenants in our senior living residences in the United States. In the past, US senior living real estate has proven to be more crisis-resistant than average. This is an ideal asset class for real estate investors seeking stability.”
Situated in close proximity to the famous Del Webb Sun City community, the complex aims to attract a target group of seniors who wish to maintain their living standard in their golden years and have the financial resources to do so. Nearly 600 applications have already been received for the 230 available residential units (125 independent living, 81 assisted living, and 24 memory care units). The new facility will offer its residents various amenities in an attractive service package based on a concierge model, featuring meals, music, and wellness offerings. The restaurant will also be open to the public. A specially designed open-air amphitheater, fully equipped wellness center, state-of-the-art fitness center, club rooms, movie theater, meditation garden, and resort-style pool will be available to residents.
As in previous projects, ACRON is again working on this facility with its partner MedCore, which specializes in developing and managing care facilities. Ground was broken on the project in October 2020 and move-in is scheduled for fall 2022. Click the following webcam link to follow progress on the construction: https://app.oxblue.com/open/medcore/georgetownseniorliving
ACRON at a glance
Founded in Düsseldorf in 1981, the ACRON Group specializes in real estate club deals and has been headquartered in Zurich since 1988. All of ACRON’s real estate projects are based on a single-asset structure and are sold in Switzerland, Austria, Germany, and the United States. One focal point is investments in the USA, which account for just under 50% of the ACRON Group’s current investments. The company’s transaction volume amounted to more than CHF 2.1 billion in June 2021. ACRON’s clients are private individuals, institutional investors and families from around the world. The ACRON Group’s headquarters are located in Zurich (Switzerland) and Dallas (USA) with subsidiaries in Luxembourg, Düsseldorf (Germany), and Sâo Paulo (Brazil). www.acron.de, www.acron.ch
Peer Bender, ACRON AG, Zurich, Switzerland
+41 (0)44 – 204 34 00
Tabea Müller, ACRON GmbH, Düsseldorf, Germany
Head of Marketing
+49 (0)211 – 91 24 102