Harrison Street Secures $250M for Senior Housing Portfolio multihousingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from multihousingnews.com Daily Mail and Mail on Sunday newspapers.
The senior living properties, which are mostly in California but also Nevada, are operated by Oakmont Senior Living. The portfolio totals 2,195 units that are mainly assisted living and memory care. The sellers are the Gallaher Cos. and Healthpeak Properties, which each own 12 properties in the portfolio.
The Healthpeak communities are on average 4 years old, with occupancies stabilized at 96% from 2016 to 2019, according to Harrison Street, adding that the Gallaher assets are recently built as well.
“The senior housing sector remained resilient throughout the pandemic and is poised for growth, Harrison Street Global Chief Investment Officer Michael Gordon said in a statement. Specifically, the assets we are acquiring are managed by a leading operator in Oakmont and located in attractive markets backed by solid demographics.