Sanders Trust and Harrison Street Acquire $21.5 M Health Facility

Birmingham, Ala. – November 22, 2019 -- The Sanders Trust, one of the nation’s leading healthcare real estate investment companies and Harrison Street, one of the largest alternative real asset investment firms dedicated to the Education, Healthcare and Storage sectors, today announced the $21.5 million acquisition of a behavioral health facility in Juno Beach, Florida.

The Beach House Recovery Center, located in Palm Beach County, was founded in 2014 and provides a full continuum of substance abuse treatment with a focus on medical detox and residential treatment. The facility also provides outpatient programs, continuing care, and intervention services. The 63,108 square foot recovery center currently has 107 beds with the ability to expand.

“The Sanders Trust is pleased to add the Beach House Recovery Center to our joint venture portfolio with Harrison Street,” stated Rance M. Sanders, President and CEO of The Sanders Trust. Mark Burkemper, Head of Healthcare Transactions for Harrison Street, stated, “There is a significant need for high-quality behavioral health facilities as Americans continue to face barriers to mental health care. Beach House Center for Recovery is a leading operator in this emerging sector, and we are excited to partner with them as well as The Sanders Trust as we continue to expand our healthcare portfolio and provide strategic capital in this important area.”

The facility is on a long-term lease and will continue to be operated by Beach House Recovery Center, with The Sanders Trust / Harrison Street joint venture owning the real estate.

Established in 2011, The Sanders Trust and Harrison Street joint venture exclusively acquires, develops, and operates healthcare real estate assets that are strategically vital facilities in the delivery of healthcare services.

About Harrison Street Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with an office in London, the firm has more than 150-employees and approximately $22.9 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe and Asia. For more information, please visit www.harrisonst.com.