Turner-Agassi Charter School Facilities, backed by tennis star Andre Agassi sold the Franklin Academy at 5000 Southwest 207th Terrace in Pembroke Pines for $60.5 million to Erudite Properties.
Records show that Turner-Agassi bought the property for $10.1 million in 2015. The company built a K-12 school in 2016 in the 40-acre campus.
Turner-Agassi Charter School Facilities is a joint venture of Turner Impact Capital and Agassi Ventures. Turner-Agassi is backed by a institutional investors who share a commitment to effecting positive societal change in cities across the United States.
To date, 96 schools have been developed or are in development across the country, serving 48,980 students in communities such as North Philadelphia, Newark, the Bronx, South Dallas, and North Las Vegas.
Turner-Agassi helps schools in site selection, acquisition, design and construction for new school facilities. These new facilities are then leased back to school operators, who can purchase their schools once they reach full occupancy. The fund intends to help operators obtain permanent financing using New Market ax Credits, tax-exempt bond offerings or funding from the U.S. Treasury’s Community Development Financial Institutions Fund.