JLL Capital Markets arranged the successful recapitalization of Franklin Park Alamo Heights, a high-end seniors housing community in San Antonio, Texas, owned by Harrison Street and Franklin Park Senior Living. Artemis Real Estate Partners, the buyer, has retained Franklin Park as manager in a new joint venture. JLL also placed the acquisition financing with a Freddie Mac loan for the buyer.
Franklin Park Alamo Heights was built in 2017 with 117 independent living, 64 assisted living and 40 memory care units. There are two four-story buildings housing the IL and AL units, respectively, plus a single-story memory care wing. The amenities include a grand ballroom, indoor pool, beauty salon, community BBQ areas, fitness center, theater, game room, business office and library.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Richard Swartz and Jay Wagner, Director Jim Dooley and Associate Jack Griffin. JLL’s Managing Director Allison Holland completed the acquisition financing.
