Harrison Street, Aegis Living Form Senior Housing JV

The joint venture will invest in and develop assisted living and memory care communities, starting with three Aegis properties.

Updated on Nov. 6, 2026 in Seniors

Gouache-painted editorial illustration of a low pale brick residential building with a covered porch, a sloping walkway, and a wooden bench under soft morning light. — Harrison Street Asset Management and Aegis Living formed a joint venture to invest in and develop assisted living and memory care communities, starting with three Aegis properties. AI Illustration. Upload story photo >

Harrison Street Asset Management and Aegis Living have formed a strategic joint venture partnership focused on assisted living and memory care communities. The partnership made an initial investment in a portfolio of three Aegis Living communities, which Aegis will continue to manage.

Why it matters

The partnership pairs institutional real estate investment capital with an operator running senior living communities, a combination that could expand the supply of assisted living and memory care housing for older adults across the United States. The companies intend to build on the initial portfolio through additional acquisitions and development opportunities.

The initial portfolio consists of three Aegis communities: Aegis Gardens in Newcastle, Wash., Aegis Living Moraga in Moraga, Calif., and Aegis Living Madison in Seattle. Aegis Living, founded in 1997, will continue to manage all three properties, while the investment amount was not disclosed.

The players

Harrison Street Asset Management

An investment firm with senior housing investment experience and a network of operating partners, entering this venture as the capital partner.

Aegis Living

A family-operated assisted living and memory care company founded in 1997, which will continue to manage the three communities in the joint venture's initial portfolio.

The details

The joint venture is structured to invest in and develop assisted living and memory care communities, with Harrison Street bringing senior housing investment experience and a network of operating partners. Aegis Living, a family-operated company, will remain the operator of the three communities in the initial portfolio.

November 6, 2026: Partnership publicly announced.

Culture Shift

The partnership reflects a broader pattern of institutional capital entering senior housing through operator-led joint ventures rather than direct ownership alone. It positions assisted living and memory care as an asset class attracting investment as the U.S. population ages.

For families across the United States, the partnership may eventually expand the number of assisted living and memory care communities available to choose from. Current residents of the three Aegis communities will see continued management by the same operator.

The takeaway

Families researching senior care can watch for new communities from operators backed by joint ventures like this one, while confirming care levels and fees directly with each provider. Investment partnerships of this kind signal growing capital interest in the sector but do not change the services a given community offers.