Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the community dramatically improved.
Brooks Blackmon, Ben Firestone and Lauren Nagle handled the transaction. There was a competitive marketing process with five written letters of intent from REITs, owner/operators and real estate investment firms, resulting in multiple rounds of bidding. The ultimate buyer was a public REIT that elected to maintain Franklin Companies as the operator. No other details were disclosed.
