"LOS GATOS - A senior living community in Los Gatos that opened its doors earlier this year has been bought for more than $50 million by a big-time real estate investor from Chicago. Ivy Park at Los Gatos has been bought for $54 million by an affiliate controlled by Harrison Street Real Estate, according to documents filed on Nov. 5 with the Santa Clara County Recorder's Office."
"The purchase price was well above the January 2025 assessed value of $38.4 million as calculated by the Santa Clara County Assessor's Office. A county assessment is just one metric that can be used to provide a snapshot of a property's value. Harrison Street Real Estate, which is owned by Harrison Street Asset Management, was founded in 2005 and has been a frequent investor in senior living centers, according to the company's website."
Ivy Park at Los Gatos is a 114-unit senior living community at 400 Blossom Hill Road that opened in May. An affiliate controlled by Harrison Street Real Estate purchased the complex for $54 million, with documents filed Nov. 5 at the Santa Clara County Recorder's Office. The development was built by an alliance of Chronograph Properties and Swenson, which sold the property to the Harrison Street affiliate. The sale price exceeded the January 2025 county assessed value of $38.4 million. Harrison Street, founded in 2005 and owned by Harrison Street Asset Management, has invested roughly $14.6 billion in senior housing totaling about 43,000 units.
Read at The Mercury News
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