Chicago, IL, Mar. 24, 2026 – Harrison Street Asset Management (“HSAM,” or the “Firm”), a leading alternative global investment management firm with over $108 billion in assets under management through highly differentiated assets across infrastructure, real estate and credit strategies, today announced the sale of a newly constructed, build-to-suit outpatient medical office building in San Jose, California, to the County of Santa Clara (“the County”) for $340 million.
The 10-story, 230,506-square-foot medical office building was purpose-built to house a new Valley Health Center site for Santa Clara Valley Healthcare, the County of Santa Clara’s public hospital and healthcare system. The transaction provides the County with ownership of a critical outpatient facility that supports the delivery and expansion of essential healthcare services for the surrounding community, including pharmacy, diagnostics imaging, primary care, pediatrics, urgent care, OBGYN, behavioral health, and lab capabilities.
The property includes a 600-space parking structure and is part of a broader seven-acre, transit-oriented, mixed-use development with 590 residential units, creating a dense, integrated live-work environment anchored by critical healthcare infrastructure.
“The transaction with the County of Santa Clara underscores our ability to collaborate effectively with health systems, delivering mutually beneficial solutions,” said Ben Mohns, Global Head of Asset Management – Real Estate at Harrison Street Asset Management. “We’re proud to have delivered a modern, purpose-built healthcare facility for the community and to complete a transaction that underscores our ability to originate, develop, and exit complex, notable real estate in sectors within which we have a high level of conviction.”
“Harrison Street Asset Management has been a key part of PMB’s evolution over the past 10 years. We greatly appreciate their trust in our people and our platform. We’ve developed phenomenal personal and professional relationships with their team and are excited to continue our partnership into the future,” said Jake Rohe, Managing Partner and President of PMB.
Harrison Street Asset Management possesses substantial experience within the healthcare sector. Since its inception, the firm has acquired 391 healthcare delivery properties across North America, with a total investment of approximately $9.8 billion. The firm focuses on properties with leading design, technology, and energy standards, often working in direct partnership with leading health systems to deliver on next-generation healthcare infrastructure that meets the needs of system-backed hospital tenants.
About Harrison Street Asset Management
Harrison Street Asset Management is a leading global alternative investment management firm with over $108 billion in assets under management through highly differentiated assets 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 1,100+ institutional and over 300+ Registered Investment Advisors.1
1 HSAM 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”) reflects 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 that is reported in their respective Form ADVs.
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