Harrison Street JV Picks Up Portland Senior Community
The property is currently 96 percent occupied.
Harrison Street Asset Management and The Springs Living have acquired Springs at Sherwood, a Class A, 160-unit senior housing community in Sherwood, Ore. The property is currently 96 percent occupied.
The community is at 15677 SW Oregon St., some 17 miles southwest of Portland, Ore. Providence Medical Plaza is 1 mile northwest.
The property includes independent living, assisted living and memory care units in studio, one- and two-bedroom configurations. Sizes range from 283 to 1,004 square feet.
Shared amenities at Spring at Sherwood feature a theater, library, beauty salon, fitness center, as well as therapy rooms and outdoor courtyards. Services comprise personal care and therapy, on-site physician visits and scheduled transportation, among others.
Between 2018 and 2020, the community underwent an expansion strategy which added 73 independent living units and 20 assisted living units. Todd Construction served as general contractor and LRS as architect.
Harrison Street Asset Management has invested some $15.1 billion across 44,000 senior housing units since its inception. The firm further expanded its portfolio earlier this year with the acquisition of two Connecticut communities totaling 206 units. JLL Capital Markets arranged the deal on behalf of the sellers.
