Harrison Street and Aegis Living announce strategic joint venture partnership to expand access to high-quality senior living communities

Partnership starts with Aegis Gardens in Newcastle, Aegis Living Moraga, and Aegis Living Madison in Seattle, with a focus on advancing care and longevity innovation in the assisted living and memory care space.

BELLEVUE, Wash., and CHICAGO, Nov. 5, 2026 /PRNewswire/ -- Aegis Living (the family-operated assisted living and memory care company founded in 1997) and Harrison Street Asset Management ("Harrison Street"), 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, today 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.

• The people you know stay. Aegis Living continues to run each community with the same care staff, nurses, and general managers.
• Care remains personal and continuous. Each community maintains a full continuum of care: assisted living, transitional care, memory care in Aegis' Life's Neighborhood, respite stays, and hospice support in residents' own apartments. Residents can stay in the home they know as their needs change.
• The objective is better care. The partnership brings additional resources for team members, communities, and Aegis' wellness and longevity programs, all focused on health span (the number of years lived in good health) through sleep, nutrition, movement, and social connection.
• Technology supports the caregiver and absolutely does not replace them. Aegis uses AUGi by Inspiren, an opt-in, privacy-first AI system that alerts caregivers in real time when a resident may be at risk of falling. Inspiren says Aegis communities using its system have seen a 22% lower fall rate and a 34% longer length of stay.
• Families do not need to take action. Questions can go directly to each community's general manager.

Founded in 1997 and based in Bellevue, Washington, Aegis Living is a family-operated, founder-led provider of assisted living and memory care. It operates 37 communities across Washington, California, and Nevada. Aegis brings five-star hospitality to senior living, with chef-led dining, daily life enrichment, and a full continuum of care in each community. Newsweek recognized Aegis as one of the Greatest Workplaces in Health Care (2026), and U.S. News & World Report named it a Best Senior Living provider (2024 and 2025). More information is available at www.aegisliving.com.

About Harrison Street Asset Management
Harrison Street Asset Management ("HSAM") is a leading global alternative investment management firm with $110 billion in assets under management across real estate, infrastructure, and credit strategies. Headquartered in Chicago, Toronto, and London with over 600 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 over 1,100 institutional investors and over 300 Registered Investment Advisors.¹

¹HSAM data and descriptions of HSAM's business are generally comprised of the aggregated data and business activities of investment advisors that are owned in whole or in part by HSAM. Assets under management ("AUM") reflect 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 as would be reported in their respective Form ADVs.

SOURCE Aegis Living