Harrison Street and Franklin Park have sold Franklin Park Alamo Heights, a 221-unit senior housing community in San Antonio. JLL Capital Markets arranged the recapitalization transaction and placed the acquisition financing with a Freddie Mac loan for buyer Artemis Real Estate Partners, who has retained Franklin Park as manager in a new joint venture.
JLL Capital Markets Senior Managing Directors Richard Swartz and Jay Wagner, Director Jim Dooley and Associate Jack Griffin were part of the Investment Sales and Advisory team, while Managing Director Allison Holland arranged the financing.
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An extensive range of amenities and services
Franklin Park Alamo Heights comprises 117 independent living units, 64 assisted living units and 40 memory care units. The luxury community includes a four-story building dedicated to independent living units that connects to a four-story assisted living building. The latter extends into a single-story memory care wing. The facility provides transportation services, on-site medical and dental care, wellness screenings, assistance with everyday activities, concierge services and a full-service kitchen.
The Class A property incorporates one-, two- and three-bedroom floorplans ranging between 908 and 1,684 square feet. Common-area amenities include a swimming pool, a fitness center, a business center, a game room, library, a theater, a grand ballroom, a beauty salon, a dining room and barbecue areas.
Located on West Sunset Road, Franklin Park Alamo Heights is in the heart of Alamo Heights, Texas, near the intersection of Route 281 and Interstate 410, which provide direct access to downtown San Antonio. Alamo Quarry Crossing Shopping Center, North Star Mall and San Antonio International Airport are all within a 2.5-mile radius of the property.