Harrison Street sells three senior living properties to Fengate Asset Management

Harrison Street has sold three senior living communities in the Upper Midwest — Lighthouse of Sun Prairie, Lighthouse of North Shore and Lighthouse of West Fargo — to Fengate Asset Management.

In July 2014, Harrison Street initially partnered with New Perspective Senior Living (NPSL) to acquire Lighthouse of Sun Prairie. This collaboration extended to the development of Lighthouse of North Shore, which was completed in December 2014, followed by the successful completion of Lighthouse of West Fargo in January 2016. Lighthouse of Sun Prairie and Lighthouse of North Shore are situated in Wisconsin, and Lighthouse of West Fargo is located in North Dakota. These three assets comprise a total of 414 units, and the sale of these assets marks Harrison Street's successful exit from their sponsored vintage fund.

"The successful sale of these properties showcases continued liquidity in our demographic sectors and highlights investor interest in high-quality senior living ass