ARCTRUST Closes Construction Loan for Second Edison Equity Active-Adult Project
ARCTRUST Private Capital and Edison Equity Residential have closed a construction loan for Serenova at Dripping Springs, a 175-residence community for residents age 55 and older in Dripping Springs, Texas, about 25 miles west of Austin, the companies said. North River Partners provided the loan; its size was not disclosed.
The project, associated with a private placement offering launched in March, is ARCTRUST’s second collaboration with Edison Equity Residential, a residential development and operating platform focused on age-restricted living communities. The companies’ first, Serenova at Woodforest near Houston, launched as a $12.2 million Regulation D offering in April 2025, closed its joint venture that August, and broke ground in November 2025; it is now under construction ahead of schedule, according to the companies.
Located adjacent to the Headwaters master-planned community, Serenova at Dripping Springs will include 133 one- and two-bedroom apartment homes and 42 private villas. The community is built around Edison’s “Concierge Community” model: personal assistance with reservations, travel, in-home needs, and social planning, paired with amenities including a restaurant and social bar, fitness centers, a resort-style pool, an arts studio, a club room, and a community lounge and marketplace, along with access to Headwaters’ trail system, according to the companies.
“Closing Dripping Springs is an important milestone for Serenova and a meaningful step in growing our Concierge Community concept,” said Carolyn White, chief executive officer of Edison Equity Residential. “With reservations already in hand at Woodforest, we know this lifestyle is connecting with people. We’re excited to build on that momentum and bring Serenova to the Texas Hill Country.”
“Returning for a second venture with Edison Equity Residential speaks to the strength of this partnership, and we are deeply grateful to our capital partners and investors for the trust they continue to place in us,” said Chris Wadelin, CEO of ARCTRUST Private Capital.
Construction on Dripping Springs is expected to begin in the fourth quarter of 2026, with first residents anticipated in summer 2028 – a longer runway than Woodforest, where villas are slated for fall 2026 delivery and the main building for early 2027.
ARCTRUST Private Capital is the capital markets division of the ARCTRUST Group of Companies, which has developed more than 500 projects valued at more than $5 billion across four decades, according to the company. Its platform spans REITs, Regulation D offerings, Delaware statutory trusts, preferred equity and debt products, and joint ventures.
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