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Harrison Street, Brightview Acquire Senior Living Portfolio
Harrison Street has acquired five senior living properties in a joint venture with Brightview Senior Living. The transaction reinforces the partnership’s commitment to deliver premier senior housing to the growing pools of demand in strategic, high barrier-to-entry micro-markets throughout the Northeast.
The five-property portfolio comprises 743 units across newly constructed communities located in Massachusetts, Maryland, New Jersey, Pennsylvania, and Virginia. With an average 94% occupancy rate, the properties demonstrate the continued and robust demand for high-quality senior living communities.
The communities will continue to be operated by Brightview Senior Living, which has been a Harrison Street partner for over 10 years. Harrison Street and Brightview’s shared portfolio will consist of 26 assets totaling over 3,600 units, including a development in Fairfax, Virginia that is under-construction. Since inception, Harrison Street has invested over $14.1 billion in senior housing, and currently ranks as one of the top five owners in the United States.
