MORRISTOWN, N.J., Feb. 18, 2025 - JLL Capital Markets announced today that it has completed the sale of Sunrise of Franklin Lakes, an 88-unit assisted living and memory care facility in Franklin Lakes, New Jersey.
JLL's Seniors Housing team, alongside JLL's New Jersey team, represented the seller and procured the undisclosed buyer in the transaction. Sunrise Senior Living has been retained as the property manager.
Completed in 2021, Sunrise of Franklin Lakes consists of a two-story building home to 51 assisted living and 37 memory care units. The community offers studio, one- and two-bedroom layouts for assisted living and private or semi-private memory care units. Amenities include activity rooms and social areas, a bistro that augments a main dining room, theatre, computer room, physical therapy gym and weekly housekeeping and laundry.
Sunrise of Franklin Lakes is positioned on a 4.62-acre site at 728 Franklin Ave. in Bergen Country, an affluent county in Northern New Jersey. Franklin Lakes is approximately 25 miles northwest of Midtown Manhattan in a supply constrained market with exceptional home values and high density.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on February 18, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 18, 2025 at 15:38:47.378.
