National + Healthcare | June 9, 2021

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.”

Connect

Inside The Story

Harrison Street

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints