Harrison Street Acquires 160-Unit Senior Housing Community in Sherwood, Oregon

Harrison Street has acquired Springs at Sherwood, a 160-unit Class-A senior housing community located approximately 17 miles southwest of Portland in Sherwood, Oregon, the Chicago-based investment management firm announced April 13, 2026. The acquisition was completed alongside long-standing operating partner The Springs Living.

Property Overview and Acquisition Details

Springs at Sherwood offers a full continuum of care including independent living, assisted living, and memory care services across a single campus. The community operates at approximately 96% occupancy, which the firm described as a market leader in rents and amenities for the submarket.

Amenities at the property include a fitness room, beauty salon, library, movie theater, and outdoor seating areas. Financial terms of the transaction, including purchase price, cap rate, and loan details, were not disclosed.

The Sherwood submarket benefits from limited new supply, with competing properties averaging approximately 29 years in age, according to Harrison Street Asset Management. The firm characterized the market as high-barrier, citing constrained conditions for new development in the area.

Harrison Street and The Springs Living Partnership

The acquisition represents the third deal completed by Harrison Street Asset Management and The Springs Living over the past six months. Together, the two firms have partnered on 18 assets totaling 2,703 units and completed 11 realizations since the inception of their relationship.

Rob Korslin, Co-Head of North America Transactions at Harrison Street Asset Management, commented on the transaction: "This acquisition reflects our focus on high-quality assets, experienced operating partners and attractive markets supported by compelling demographics. Having acquired three properties alongside The Springs Living over the past six months and with a robust pipeline of opportunities ahead, we see significant potential to expand in markets where development is increasingly challenging."

Harrison Street Asset Management ranks among the top five largest U.S. senior housing owners, according to the firm. Since inception, the firm has invested approximately $15.1 billion across 44,000 units and completed more than $4.8 billion in sales across 171 properties. The firm manages over $108 billion in assets under management across real estate, infrastructure, and credit strategies.

Transaction Context

Harrison Street Asset Management noted a robust pipeline of opportunities ahead in markets where development activity is limited. The firm's stated strategy centers on acquiring stabilized, high-occupancy assets in supply-constrained markets alongside experienced operating partners.

Harrison Street Asset Management is headquartered in Chicago with additional offices in Toronto and London, and employs more than 600 professionals across North America, Europe, Asia, and the Middle East. The firm serves more than 1,100 institutional clients and over 300 registered investment advisors. Per the firm, its business data and descriptions are generally comprised of the aggregated data and business activities of investment advisors that are owned in whole or in part by Harrison Street Asset Management.

Sources: Harrison Street Asset Management Press Release, April 13, 2026