CHICAGO, IL, November 4, 2025 – Harrison Street Asset Management ( “HSAM,” or the “Firm”), a leading global real assets investment management platform with more than $103 billion in assets under management and expertise across real estate, credit, infrastructure, and private wealth, today announced the formation of a new joint venture with Oakmont Senior Living (“Oakmont”) and Blue Mountain Enterprises (“Blue Mountain”) to acquire and develop a six-property, Class A senior housing portfolio across California. This relationship-driven venture brings together three leading firms with complementary expertise across investment, development, and operations.
The portfolio includes five operational senior living communities and one shovel-ready development scheduled for completion in 2027, all in high-barrier California market.
The 669-unit portfolio features spacious layouts and premium amenities such as full-service hair salons, coffee and gelato bars, movie theaters, outdoor community areas, and activity rooms, all designed to provide an elevated living experience.
Oakmont, one of California’s largest and most established operators, will manage and operate the communities. This acquisition builds upon Harrison Street’s existing long-term relationship with Oakmont, which comprises 24 assets and approximately 2,500 units across California and Nevada. The firm expects to grow this venture with both Oakmont and Blue Mountain through additional acquisitions and developments in selective West Coast markets.
“This transaction exemplifies our senior housing investment strategy, which is the cross-section of quality assets, quality operators and quality zip code qualified micro-markets,” stated Mike Gordon, Global Chief Investment Officer – Real Estate at Harrison Street Asset Management. “Through our long-standing relationship with the owner and developer Blue Mountain, we were able to access high-quality assets located in attractive micro-markets at a compelling price basis. Given our well-diversified and extensive operating partner network, we identified Oakmont as a perfect fit for these communities. We’re thrilled to be aligned with Blue Mountain, as we continue to grow our Oakmont-operated portfolio throughout California, and we’re committed to adding lasting value to this portfolio and providing a great environment for residents and property employees. This tri-party venture has already identified growth opportunities, through both acquisition and development, and we share the belief that senior housing represents one of the most exciting real estate investment opportunities of the next decade.”
“Partnering with Harrison Street and Oakmont represents an alignment of vision and values,” said Stephanie MacLean, Blue Mountain’s Chief Executive Officer. “At Blue Mountain, we’re deeply committed to creating communities that elevate the senior living experience. This venture presents an exciting opportunity to collaborate with Harrison Street, a leading investor in Senior Housing, and to further strengthen our relationship with Oakmont. Their operational excellence and resident-first philosophy make them an ideal partner as we jointly pursue new development and acquisition opportunities across California. Together, we’re building a platform for long-term growth and innovation in senior housing.”
HSAM is a leading investor in the senior housing sector, consistently ranking among the top five largest owners and one of the largest private owners in the United States. Since inception, the firm has invested approximately $14.7 billion across 43,000 senior housing units and has completed more than $5.6 billion in sales across 160 properties. The firm’s leadership in senior housing is built on nearly two decades of experience and longstanding partnerships with operators and developers nationwide.
About Harrison Street Asset Management
Harrison Street Asset Management is a leading global alternative investment management firm with over $103 billion in assets under management through highly differentiated assets across infrastructure, real estate and credit strategies. Headquartered in Chicago, Toronto and London with approximately 520 employees in offices across North America, Europe, Asia and the Middle East, the firm offers innovative solutions across a variety of closed-end, open-end and specialized vehicles on behalf of 900 institutional and over 300 Registered Investment Advisors.1
1 HSAM data and descriptions of HSAM’s business are generally comprised of the aggregated data and business activities of investment advisors thatare owned in whole or in part by HSAM. Assets under management (“AUM”) reflects the AUM for the investment advisory and asset management clients of such investment advisors and is inclusive of the regulatory AUM of such investment advisors that is reported in their respective Form ADVs.
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Doug Allen
Dukas Linden Public Relations
HSAM@dlpr.com
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