Key Takeaways
- • Harrison Street Asset Management acquired Springs at Sherwood, a 160-unit Class-A senior housing community in Sherwood, Oregon, operating at 96% occupancy alongside long-standing partner The Springs Living.
- • The property is positioned in a high-barrier market 17 miles southwest of Portland with limited new supply and competing properties averaging 29 years in age, creating structural competitive advantages.
- • HSAM and The Springs Living have now partnered on 18 assets totaling 2,703 units with 11 completed realizations, demonstrating an accelerating acquisition pace—three properties acquired together over the past six months.
- • Harrison Street, managing $108 billion in assets under management and ranking among the top five largest U.S. senior housing owners, has invested approximately $15.1 billion across 44,000 senior housing units since inception.
- • The acquisition reflects HSAM's strategic focus on demographic-driven markets with experienced operating partners where new development faces regulatory and supply constraints.
Summary
Harrison Street Asset Management announced on April 13, 2026, the acquisition of Springs at Sherwood, a 160-unit senior housing community located in Sherwood, Oregon, approximately 17 miles southwest of Portland. The property was acquired alongside The Springs Living, HSAM's long-standing operating partner. The full-service continuum campus offers independent living, assisted living, and memory care services, with current occupancy at 96%.
The asset demonstrates the operational and market characteristics HSAM targets in senior housing investments. Springs at Sherwood features Class-A amenities including a fitness room, beauty salon services, library, movie theater, and outdoor seating, positioning it as a market leader in rents and amenities. Critically, the property operates in a high-barrier market characterized by limited new supply and aging competitive inventory—competing properties average approximately 29 years in age—creating structural barriers to new development and supporting pricing power.
The acquisition underscores an accelerating partnership between HSAM and The Springs Living. The two firms have now partnered on 18 assets comprising 2,703 total units and completed 11 realizations. Rob Korslin, Co-Head of North America Transactions at Harrison Street, stated: "This acquisition reflects our focus on high-quality assets, experienced operating partners and attractive markets supported by compelling demographics." He noted that having acquired three properties alongside The Springs Living over the past six months, combined with a robust development pipeline, positions both firms to expand in markets where new development has become increasingly challenging.
HSAM's position in senior housing remains substantial. The firm manages over $108 billion in assets under management across infrastructure, real estate, and credit strategies, and consistently ranks among the top five largest U.S. senior housing owners. Since inception, the firm has invested approximately $15.1 billion across approximately 44,000 senior housing units, having completed more than $4.8 billion in dispositions. The Springs at Sherwood acquisition reflects the firm's strategic thesis on demographic tailwinds and supply-constrained markets where experienced operators can generate value through quality asset acquisition and disciplined capital deployment.
The asset demonstrates the operational and market characteristics HSAM targets in senior housing investments. Springs at Sherwood features Class-A amenities including a fitness room, beauty salon services, library, movie theater, and outdoor seating, positioning it as a market leader in rents and amenities. Critically, the property operates in a high-barrier market characterized by limited new supply and aging competitive inventory—competing properties average approximately 29 years in age—creating structural barriers to new development and supporting pricing power.
The acquisition underscores an accelerating partnership between HSAM and The Springs Living. The two firms have now partnered on 18 assets comprising 2,703 total units and completed 11 realizations. Rob Korslin, Co-Head of North America Transactions at Harrison Street, stated: "This acquisition reflects our focus on high-quality assets, experienced operating partners and attractive markets supported by compelling demographics." He noted that having acquired three properties alongside The Springs Living over the past six months, combined with a robust development pipeline, positions both firms to expand in markets where new development has become increasingly challenging.
HSAM's position in senior housing remains substantial. The firm manages over $108 billion in assets under management across infrastructure, real estate, and credit strategies, and consistently ranks among the top five largest U.S. senior housing owners. Since inception, the firm has invested approximately $15.1 billion across approximately 44,000 senior housing units, having completed more than $4.8 billion in dispositions. The Springs at Sherwood acquisition reflects the firm's strategic thesis on demographic tailwinds and supply-constrained markets where experienced operators can generate value through quality asset acquisition and disciplined capital deployment.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.