JLL’s Seniors Housing Capital Markets team led the sales efforts for Sunrise of Franklin Lakes, an 88-unit facility in Franklin Lakes, New Jersey
News release
18 February 2025
Sunrise Senior Living Community in Northern New Jersey trades to new investor
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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.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.