Cushman & Wakefield Arranges Sale of 76-Unit Franklin Park of Round Rock in Texas

by Jeff Shaw

ROUND ROCK, Texas — Cushman & Wakefield has arranged the sale of Franklin Park of Round Rock, a 76-unit assisted living and memory care community in Round Rock, approximately 20 miles north of downtown Austin.

A Cushman & Wakefield team of Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin represented the seller, Franklin Park Senior Living and its institutional capital partner, in the transaction.

The buyer was Inspired Healthcare Capital, a senior housing investor with a captive operator called Volante Senior Living, which will manage the community going forward. The price was not disclosed.

The community opened in 2017 as a ground-up development by Franklin Development Co. The assisted living and memory care community has operated at 95 percent occupancy for most of the last 12 months after achieving stabilization. The boutique community is all private pay and has benefited from the tremendous growth of the Austin metro, specifically in the Round Rock area.

The property is a single-story building configured in an irregular pentagonal shape that includes three interior courtyards and dedicated dining and amenities for both assisted living and memory care residents. The community is located adjacent to a skilled nursing/rehabilitation property and a local golf course.

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