Harrison Street Asset Management has sold a portfolio of US senior housing communities, developed in partnership with B2K Development, for more than $600m (€515.9m).
Senior living REIT Ventas is reportedly the buyer of the portfolio of five Class-A senior housing communities located throughout central Long Island and New York.
Harrison Street and B2K developed the assets between 2016 and 2022.
Ben Mohns, the head of asset management – North America – at Harrison Street, said: “This transaction exemplifies Harrison Street’s ability to produce value by targeting strategic developments, creating portfolios at scale that deliver operational excellence, and executing strategic sales at opportune moments in time.
“As an early mover in the sector, we have helped shape the evolution of high-quality senior living communities, and this portfolio sale underscores growing investor demand for demographically driven, resilient alternative real estate sectors such as senior housing.”
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