BELLEVUE, WA - Aegis Living, a family-operated assisted living and memory care company founded in 1997, and Harrison Street Asset Management, a leading alternative global investment management firm with over $110 billion in assets under management through highly differentiated assets across infrastructure, real estate, and credit strategies, announced a strategic joint venture partnership focused on investing in and developing high-quality assisted living and memory care communities. The partnership brings together Aegis Living's longstanding reputation for exceptional resident care and operations with Harrison Street's extensive senior housing investment experience and network of leading operating partners.
The partnership kicks off with an investment in a portfolio of three Aegis communities: Aegis Gardens in Newcastle, WA; Aegis Living Moraga in Moraga, CA; and Aegis Living Madison in Seattle. The companies intend to build on this initial investment through additional acquisitions and development opportunities, reflecting a shared commitment to expanding access to comprehensive senior living experiences.
Aegis Living will continue to manage all three communities. The same care teams, community leaders, and care plans remain in place. Harrison Street's investment will allow Aegis to commit more resources to its people, communities, and the innovations that can help residents live longer, healthier lives. Aegis continues to focus on what it does best: delivering outstanding care and leading innovation in the senior living industry.
Harrison Street first launched its real estate strategy to invest in senior housing and other alternative sectors in 2005 and has since invested $16 billion across 46,000 senior housing units. Harrison Street is currently the largest private owner of senior housing assets in the United States. Over more than two decades, the firm has developed a broad network of relationships with high-quality senior housing operators, enabling partnerships grounded in shared operating philosophies and long-term strategic alignment.
"Families trust us with the people they love most. That was the first thing we spoke to Harrison Street about and stayed at the forefront throughout our discussions," said Dirk Burghartz, President of Aegis Living. "We took the time to get to know our new partners. We discovered a team who respects our culture and our people. That is the reason why we believe this joint venture will be successful. For the families in Newcastle, Moraga, and Madison, the faces they know, and the care they rely on remain exactly the same. What does change is what's behind that care: decades of experience, strong relationships, and more resources to continue to make it better."
Dwayne J. Clark, Founder, Chairman, and CEO, added: "I've spent my career on one question, really: how do we help people live longer and live better? Technology is part of the answer. It will never replace the value of a nurturing caregiver who knows your mother's name and how she takes her coffee. The right innovation gives caregivers better information and more time, so they can get there earlier. Harrison Street can enable us to move much faster on that work, and we're very excited about what we're going to build together."
"We are excited to welcome Aegis Living to our network of high-quality senior housing operating partners," said Rob Korslin, Co-Head of North American Transactions at Harrison Street. "Aegis has built an exceptional reputation through its hospitality-focused operating model, notable communities, and commitment to residential care. We believe access to leading operators like Aegis is a key differentiator for Harrison Street's senior housing strategy, and we look forward to building a lasting relationship, beginning first with these three communities and expanding into additional investment and development opportunities over time."
"Our approach to senior housing has always centered on partnering with leading operators that share our commitment to quality, innovation, and residential care," said Michael Gordon, Global Chief Investment Officer – Real Estate at Harrison Street. "Aegis Living embodies these qualities. We believe this partnership combines the complementary strengths of our two organizations and creates a strong foundation for growing our relationship in the years ahead."
Berkadia Seniors Housing & Healthcare advised Aegis Living on the transaction, with a team led by David Fasano.