Harrison Street has entered into a series of deals in which it has agreed to purchase 24 senior housing assets and sell 14 medical office properties for a total transaction value of $1.6 billion. These deals reach across eight states and consist of 40 properties with multiple sellers and counterparties. 

Harrison Street has agreed to acquire a portfolio of 24 Class A senior housing properties focused on assisted living and memory care consisting of 2,195 units across California and Nevada for approximately $1.2 billion. Twelve properties were acquired from Healthpeak Properties and are operated by Oakmont Management Group. The remaining 12 properties are owned by Gallaher Cos., also operated by Oakmont, and many are either recently completed or currently under construction.

The Healthpeak stabilized portfolio has averaged 96% occupancy from 2016-2019. The properties, which are on average four years old, are located in Montecito, Escondido, Roseville, Alameda, Fair Oaks, Concord, Chino Hills, Whittier, Santa Clarita, San Jose, Valencia and Huntington Beach. The Gallaher properties are located in Camarillo, Oxnard, Stockton, Torrance, Sacramento, Novato, San Jose, Fullerton, Simi Valley, and Roseville, California as well as Las Vegas, Nevada.