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230 West Sunset Road

Artemis Real Estate Partners Acquires Franklin Park Alamo Heights Seniors Housing In San Antonio
SOLDSenior Housing

Artemis Real Estate Partners Acquires Franklin Park Alamo Heights Seniors Housing In San Antonio

230 West Sunset Road

Building Size

Asset Type

Senior Housing

Closing

Dec 14, 2023

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.

Players

Jay Wagner

JLL

Broker

$1.5B

vol

13 deals

Broker
Deborah Harmon

Deborah Harmon

Artemis Real Estate Partners

Buyer

$994.8M

vol

12 deals

Buyer

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