DLA Piper advises Harrison Street on sale of New York Housing Portfolio

DLA Piper advised Harrison Street Asset Management, a global investment management firm, on the sale of five Class-A senior housing communities across central Long Island and New York. The combined properties are valued at more than US$600 million.

The portfolio, developed in partnership with B2K Development, includes senior housing communities featuring amenities such as swimming pools, cinemas, fitness centers, and libraries. The transaction reflects Harrison Street’s market position in the senior housing sector and the growing investor demand for alternative real estate assets supported by demographic trends.

“It was a pleasure to support our longtime client Harrison Street on this significant portfolio sale, which highlights the strength of senior housing as a resilient asset class,” said Partner Shari Helft Lennon, who led the DLA Piper deal team.

Attorney Kalisa Kennedy supported Helft Lennon (both Chicago) on the deal.

With more than 200 lawyers in our real estate sector in the US and 500 globally, DLA Piper's market-leading Real Estate practice offers a full range of real estate services, including acquisitions and sales, single asset, programmatic and operating company joint ventures, real estate fund formation, public and private REITs, financing, zoning and development, construction and design, leasing and restructuring and workouts. The firm executes hundreds of transactions every year, ranging from billion-dollar-plus transactions to the acquisition, financing, joint venture formation, leasing, and sale of individual properties.