March 6, 2019
Harrison Street Real Estate Capital sold a portfolio of eight senior housing living communities developed in partnership with Dominion Partners, LLC. to Salt Lake City-based Bridge Investment Group for an undisclosed amount. The 887-unit portfolio consists of six properties across eight southeastern senior living communities in Alabama, Florida, Georgia, and Tennessee, with an overall occupancy rate of 92%.
The assets include Somerby Peachtree City I, Somerby Peachtree City II, Somerby Sandy Springs, Somerby Franklin, Somerby Santa Rosa (pictured) and Somerby Auburn. The properties were held across four Harrison Street Opportunity funds.
Harrison Street’s Christopher Merrill says, “This transaction is reflective of Harrison Street’s proven strategy of leveraging our deep understanding of the seniors housing sector, as well as the demographics of the regions in which we invest –down to the zip code – in order to identify attractive investment opportunities to create value for our investors and partners.
For comments, questions or concerns, please contact Dennis Kaiser