Updated Dec 4, 2024
Artemis Real Estate Partners Acquires Franklin Park Alamo Heights Seniors Housing In San Antonio
230 West Sunset Road
Units
221
Asset Type
Senior Housing
Closing
Dec 14, 2023
About this deal
AI
Artemis Real Estate Partners, led by Deborah Harmon, has acquired the 221-unit Franklin Park Alamo Heights seniors housing community in San Antonio. The property, located at 230 West Sunset Road, is a senior housing asset. The transaction took place on December 14, 2023, in the San Antonio market.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: Not specified
- Units: 221
Artemis Real Estate Partners partnered with Franklin Park for the joint venture ownership of the asset, taking over as the equity partner from Harrison Street. JLL, represented by Allison Holland, Richard Swartz, Jay Wagner, James Dooley, and Jack Griffin, arranged the recapitalization for the acquisition. Allison Holland secured a Freddie Mac loan for the new ownership entity.
On the Map
Senior Housing
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Players
San Antonio Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93