CHICAGO — Investment management firm Harrison Street has sold a 1,186-unit seniors housing portfolio to Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management.
Originally acquired by Harrison Street in a joint venture partnership with Brightview Senior Living in 2014, the portfolio comprises eight communities located in the Baltimore, Philadelphia and Boston-Providence metros.
Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer and Sean Kirk of JLL National Seniors Housing Capital Markets brokered the sale on behalf of Harrison Street. Allison Holland and Alex Sheaffer, also of JLL, arranged Freddie Mac acquisition financing on behalf of the buyer.
According to a press release issued by the company, Chicago-based Harrison Street has invested roughly $14.5 billion in seniors housing assets since its inception, including more than $550 million in new seniors housing properties this year.