(Read more on the multifamily market.)

WOODBURY, NY-Kaplan Development Group LLC, a locally based senior housing operator and developer, and Harrison Street Real Estate Capital LLC, a Chicago-based real estate private equity firm, have formed a new venture focused on the development, redevelopment and acquisition of senior housing properties in strategic submarkets throughout the Northeast and Southeast US.

The venture initially plans to develop and acquire a portfolio of assets worth over $350 million during the next three years and was launched with the recapitalization of six senior housing properties totaling 540 units in New Jersey, Pennsylvania, Delaware and Georgia. Further property closings will be announced in the coming months.

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