LOS GATOS — A senior living community in Los Gatos that opened its doors earlier this year has been bought for more than $50 million by a big-time real estate investor from Chicago.
Ivy Park at Los Gatos has been bought for $54 million by an affiliate controlled by Harrison Street Real Estate, according to documents filed on Nov. 5 with the Santa Clara County Recorder’s Office.
The 114-unit complex is located at 400 Blossom Hill Road in Los Gatos and opened its doors in May.
An alliance of two Bay Area real estate firms, Vacaville-based Chronograph Properties and San Jose-based Swenson, developed the senior community and sold it to the Harrison Street affiliate.
The purchase price was well above the January 2025 assessed value of $38.4 million as calculated by the Santa Clara County Assessor’s Office. A county assessment is just one metric that can be used to provide a snapshot of a property’s value.
Harrison Street Real Estate, which is owned by Harrison Street Asset Management, was founded in 2005 and has been a frequent investor in senior living centers, according to the company’s website.
Over the 20 years since it was founded in 2005, the firm has invested approximately $14.6 billion in senior housing assets that total a combined 43,000 units, the company stated in August in connection with its purchase of a portfolio of senior living communities in the New York City area.