**Harrison Street, B2K Divest Five New York Senior Housing Properties for Over $600 Million**
*Updated with additional information*
Harrison Street Asset Management has announced the sale of five Class-A senior housing communities located across central Long Island and New York, in a transaction valued at more than $600 million. While the buyer was not officially disclosed, Bloomberg News has reported that the purchaser is healthcare real estate investment trust Ventas Inc.
The portfolio consists of five properties developed in collaboration with Jericho, NY-based B2K Development between 2016 and 2022. Despite the ownership change, B2K Development will continue to manage the communities. A Newmark team led by Adam Doneger, Chad Lavender, and Ryan Maconachy represented the seller group in the transaction.
This latest deal aligns with Harrison Street’s strategy, where approximately 80% of its asset sales are executed as strategically assembled portfolios. Meanwhile, the firm focuses its acquisitions and developments on individual properties located in markets characterized by high barriers to entry.
“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,” said Ben Mohns, Head of Asset Management – North America at Harrison Street.
*Pictured: A representative B2K seniors housing property.*
