Harrison Street has sold a portfolio of five senior housing properties valued at $193.50 million in Oregon and Montana. The buyer was The Springs Living, a senior housing operator that has partnered with Harrison Street since 2011.
The portfolio consists of 622 independent living, assisted living and memory care units located in Medford, Ore.; Eugene, Ore.; Butte, Mont.; and Billings, Mont. The properties had an average occupancy rate of 93 percent, as of December 2021.
Since 2011, Harrison Street and The Springs Living have acquired 14 properties in partnership, representing more than 2,000 senior living units.
Harrison Street said the properties were held across several of the firm’s U.S. Opportunity Funds and related co-investment vehicles.
“This transaction is emblematic of Harrison Street’s longstanding core strategy of acquiring or developing individual assets, executing on defined business plans, and exiting via strategic portfolio sales,”
