Harrison Street has acquired The Woodlands Cancer Center, a medical office building serving University of Texas’ MD Anderson Cancer Center. No financial terms were disclosed.
CHICAGO – 26 March 2020 – Harrison Street, one of the largest alternative real asset investment firms dedicated to the Education, Healthcare, and Storage sectors, today announced the acquisition of The Woodlands Cancer Center, a 208,000 square foot, Class A, state-of-the-art medical office building serving University of Texas’s MD Anderson Cancer Center.
Completed in July 2019 and located in a populous and growing submarket of Houston, The Woodlands Cancer Center features imaging equipment, women’s services, infusion, phlebotomy, radiation therapy, interventional radiology, and clinical exam capabilities enabling patients to obtain world class care. The property has a long term lease agreement with University of Texas MD Anderson Cancer Center, one of the nation’s largest and most respected health systems, which has been the #1 ranked Top Cancer Center 13 of the last 16 years, according to the U.S. News & World Report.
Christopher Merrill, Harrison Street’s Co-Founder, Chairman and Chief Executive Officer, said, “Execution and risk management have been hallmarks of our firm since our inception 15 years ago, and our commitment to investing in resilient asset classes across cycles has positioned Harrison Street to be the partner of choice for leading health systems amid these unprecedented and uncertain times. The newly constructed Woodlands Cancer Center is a state-of-the-art facility that will ensure MD Anderson’s global patient population are able to receive cutting edge care for years to come.”
Harrison Street is one of the most prolific private investors in healthcare real estate. Over the past 18 months, the firm closed 109 assets within the healthcare sector across 27 states for a total cost of approximately $6 billion. This activity involved the acquisition, development and repositioning of properties in the senior housing, medical office, behavioral health, life science and hospital infrastructure segments.
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 invests across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure, and serves universities, health systems and government users. Headquartered in Chicago with an office in London, the firm has more than 150-employees and approximately $24.8 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.