Harrison Street leads various real estate acquisitions

Goodmans LLP represented Harrison Street, a leading investment management firm headquartered in Chicago and exclusively focused on alternative real assets, on various real estate acquisitions in 2022 including:

1. The acquisition by Harrison Street of a 50% joint venture interest in the 125-unit Pearl & Pine independent senior living community in Burlington, Ontario from third-party investors and related financing from BMO. Reichmann Seniors Housing retained its 50 per cent stake in the property, and its operating arm, Signature Retirement Living, continues to manage the property.
2. The acquisition by Harrison Street of an 80% joint venture interest in two senior housing properties containing 166 units in St. Catharines, Ontario (Royal Henley and The Rennie) and related financings from Computershare with respect to Royal Henley and BMO with respect to The Rennie. Reichmann Seniors Housing retained a 20% joint venture interest these properties and its operating arm, Signature Retirement Living continues to manage the properties.
3. The acquisition by Harrison Street of a 75% joint venture interest in a new boutique student housing property in Ottawa and related financing from First National.
4. The purchase by Harrison Street of the 125,000-square-foot South Calgary Health Centre from Nicola Wealth Real Estate and related financing from First National. The Centre is anchored by Alberta Health Services. This is Harrison Street’s first medical office building in the country.
5. The purchase by Harrison Street of the 93,801-square-foot Seton Professional Centre in Calgary from Brookfield and related financing from BMO. The Centre is anchored by EFW Radiology, one of two major radiology practices in Alberta, and other tenants include medical practices, clinics, dentists, a pharmacy and child-care services.
6. The acquisition by Harrison Street of a 90% joint venture interest in the 303 unit multi-family residential project being developed and constructed on lands ground leased from the University of Calgary and related financing from First National. Harrison Street’s joint venture partner is Gracorp.
7. The acquisition by Harrison Street of a 90% joint venture interest in Le Mildoré, a new, 279-bed purpose-built student accommodation in Montreal and related financing from First National. This is the first acquisition by Harrison Street in Montreal’s student housing market.
8. The purchase by Harrison Street of its first Canadian life sciences asset being a 78,000 square-foot building in Vancouver B.C. that is leased to Precision Nanosystems for its new global headquarters and manufacturing facility. The sellers were PC Urban and Nicola Wealth Real Estate and financing was provided by First National.