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SAN ANTONIO — CBRE has arranged a refinancing for Franklin Park Alamo Heights, a 221-unit independent living, assisted living and memory care community in San Antonio.
The borrower is a joint venture between Harrison Street Real Estate Capital and Franklin Development Properties. The amount of the loan was not disclosed.
The Class A community sits on 7.2 acres within the Alamo Heights neighborhood, five miles north of downtown San Antonio. The sought-after community features an average household income that’s nearly double the national average, according to CBRE.
Aron Will and Tim Root of CBRE National Senior Housing secured a three-year, floating-rate loan with 24 months of interest-only payments from a debt fund.