Harrison Street forms JV with Revera

Harrison Street has formed a joint venture with Revera, an owner, operator, developer and investor in the senior living sector, to acquire four premium retirement living residences located in the Greater Toronto Area and Cambridge, Ontario.

As part of the transaction, the joint venture will share ownership of four of Revera’s luxury retirement communities, including Granite Landing in Cambridge, The Renoir in Newmarket, Westney Gardens in Ajax, and The Williamsburg in Burlington. Revera will continue to operate and manage the residences.

The four properties, which were built between 2014 and 2018, comprise 537 senior apartments, independent and assisted living, and memory care units, each neighboring attractive and affluent communities.

Jonathan Turnbull, managing director and head of Canadian transactions and business development for Harrison Street, said, “We are thrilled to continue building on our momentum in Canada and to bring our deep sector expertise