The Real Deal Miami

Andre Agassi and Bobby Turner sell second SoFla charter school: $22M

Partnership sold Cooper City school last week for $20M

August 16, 2016 12:00PM
By Katherine Kallergis

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Andre Agassi and Franklin Academy in Boynton Beach

Andre Agassi and Franklin Academy in Boynton Beach

Former tennis pro Andre Agassi and his business partner/investor Bobby Turner sold a Boynton Beach charter school for $22.3 million.

The Franklin Academy in Boynton Beach marks the second in South Florida that Agassi and Turner developed and sold to Florida Charter Foundation, the schools’ operator. Last week, an affiliate of the Turner Agassi Charter School Facility Fund sold the Franklin Academy in Cooper City for $20 million to the Fort Lauderdale-based Florida Charter Foundation, which manages a network of 12 schools in the state.

The Franklin Academy also has locations in Palm Beach Gardens, Pembroke Pines and Sunrise, according to its website.

The Boynton Beach school, at 7882 South Military Trail, spans 81,000 square feet and includes classrooms for music, art, computer labs and science labs, a gym and locker rooms. The 10-acre campus was developed in 2013. Previous sales information for the property is not available online.

The Turner-Agassi fund had plans to develop up to 130 schools across the country, coming out to about $1 billion in planned investment. Turner is CEO of Turner Impact Capital, an investment fund based in Los Angeles. He was also a founding partner at the hedge fund Canyon Capital Realty Advisors.