Chicago-based Harrison Street Asset Management has sold five senior housing communities throughout central Long Island and New York, in a transaction valued at more than $600 million.

The portfolio comprises five senior housing properties, developed in partnership with B2K Development between 2016 and 2022. Since the firm’s inception, Harrison Street has invested approximately $14.6 billion across 43,000 units in senior housing assets.

“This transaction exemplifies Harrison Street’s ability to produce value by targeting strategic developments, creating portfolios at scale that deliver operational excellence, and executing strategic sales at opportune moments in time,” said Ben Mohns, Head of Asset Management – North America at Harrison Street. “As an early mover in the sector, we have helped shape the evolution of high-quality senior living communities, and this portfolio sale underscores growing investor demand for demographically driven, resilient alternative real estate sectors such as senior housing.”