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California  + Bay Area  + Senior Housing  |  July 2, 2021
Lisa Brown
By: Lisa Brown

Harrison Street Acquires 28 Assets in Two Senior Housing Portfolios

Harrison Street has been busy with senior housing purchases. In the first, Harrison Street acquired a 12-property class-A senior housing portfolio located in the San Francisco, Los Angeles, Ventura, Sacramento, Riverside, San Diego, Stockton and Las Vegas metro areas.

The cross-defaulted and cross-collateralized portfolio consists of assisted living and memory care communities with a total of 1,118 units. The portfolio will continue to be operated by Oakmont Management Group.

Trace Wilson, executive director at PGIM Real Estate, led the origination of a fixed-rate loan for the acquisition.

Meanwhile, Harrison Street acquired 16 properties operated by Oakmont Management Group from two different sellers, Healthpeak Properties and Gallaher Companies, for approximately $1.2 billion. The portfolio acquisition was estimated at $546,700 per unit, according to SeniorCare Investor.

The properties comprise 1,148 units in California. Greystone provided debt financing for the senior housing acquisition.

Read More News Stories About: Greystone, PGIM
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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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