Harrison Street: Investor Mistakes Have Discounted Senior Housing Cap Rates

Though both sectors cater to residents and are demographic-driven, senior housing cap rates generally trend higher than multifamily cap rates, and one real estate investor says that discount can be attributed to investor mistakes. Despite recent trends of broader acceptance of the senior housing sector among institutional investors, cap rates compared to multifamily assets still […]

Harrison Street Acquires Senior Living Portfolio for $380 Million

Chicago real estate fund-management firm Harrison Street has announced it has closed a deal to acquire a Long Island, N.Y.-based senior housing portfolio for approximately $380 million. The portfolio, which includes seven properties focused primarily in assisted living with roughly 20% memory care units, was acquired by the Harrison Street Core Property Fund, the firm’s core […]

LCS Acquires Equity Stake in Senior Living Portfolio JV with Harrison Street

LCS recently entered a joint venture partnership with Chicago-based investment firm Harrison Street Real Estate Capital to acquire an equity position in nine senior living communities in the greater Minneapolis region of Minnesota. The market-rate rental communities have a total 1,166 residential units. Two of the properties are independent living communities, and the remaining seven […]

The Springs Living Buys Four Senior Housing Properties for $65 Million

McMinnville, Ore.-based senior living operator The Springs Living recently acquired a four-property portfolio in the Portland area from Grayco LLC for $65 million. The Springs Living partnered with Harrison Street Real Estate Capital LLC, a Chicago-based private equity firm, to purchase the properties and used $56 million in financing arranged by Holliday Fenoglio Fowler LP, also […]

Harrison Street and Engel Burman to Buy Back Assisted Living Chain, Build More

Chicago-based private equity firm Harrison Street Real Estate Capital, LLC and development company The Engel Burman Group have agreed to purchase five senior living communities for $290 million from a Canadian-Australian joint venture partnership. Canadian REIT Chartwell Seniors Housing (TSX:CHS.UN) and ING Real Estate Australia Pty are selling the five-property Bristal-branded portfolio, all located in New […]

Harrison Street Acquires Senior Housing Portfolio for $125 Million

Harrison Street Real Estate Capital announced the acquisition of an eight property senior housing portfolio on behalf of Harrison Street Real Estate Partners III, LP (“Fund III”) for $125 million. Referred to as the E-Quest Portfolio, it includes seven assets in and around Houston, TX, and one in Oklahoma City, OK. In the aggregate, the properties […]