Harrison Street Buys, Sells in $1.6B of Transactions
Chicago-based Harrison Street has agreed to purchase 24 seniors housing assets and sell 14 medical office properties across eight states, multiple sellers and counterparties for a total of approximately $1.6 billion.
On the acquisition side, Harrison Street is adding a portfolio focused on assisted living and memory care, evenly divided between Healthpeak Properties and Gallaher Companies, for $1.2 billion. Nearly all of the seniors assets are located in California.
Additionally, Harrison Street has agreed to sell to Healthpeak a 14-property medical office portfolio, totaling 833,000 square feet across Virginia, Illinois, Minnesota, New Jersey, Oregon, Texas and California, for approximately $371 million.
Christopher Merrill, Harrison Street’s co-founder, chairman and CEO, said, “We are excited by the opportunities that exist across each of our core sectors and to bring Harrison Street’s substantial resources to bear to support vital sectors of the economy and to drive value for our investors and partners.”