Harrison Street has completed a first closing of its first dedicated fund in Canada, a year after the firm opened an office in the region.
The Harrison Street Canada Alternative Real Estate Fund was backed by a variety of institutional investors and prominent Canadian family offices, such as the Hennick family, as well as senior executives of the firm.
The fund will focus on demographics-driven real estate assets, such as senior living, student housing, medical office, life sciences, storage and digital assets throughout Canada. It follows a core-plus investment strategy that allows up to 35 percent to be invested in value-add strategies.
Harrison Street said the fundraise gives it the capability to invest in more than C$550 million ($435 million) of stabilized, income-producing assets.
Jonathan Turnbull, managing director and head of Canadian transactions for Harrison Street, told IREI in an exclusive interview that Canada possesses a variety of characte