The Northbridge Companies and its partner Sandy River II closed a $100 million joint-venture relationship with Harrison Street Real Estate Capital of Chicago. The partnership will focus its efforts on the development, acquisition and operation of dedicated memory care facilities and assisted living communities throughout the northeastern region of the U.S., with an emphasis on New England.
The primary initiative of the venture is to develop a portfolio of AVITA-branded senior housing assets that will consist of long-term healthcare properties that will cater exclusively to those seniors in need of health-related services and cognitive care. The partnership has identified un-met demand in the high-acuity and memory care-levels within Northbridge's primary markets.