EXCLUSIVE — Harrison Street acquires University of Kentucky student housing portfolio
Harrison Street has acquired a significant minority interest in a portfolio of on-campus housing assets at the University of Kentucky. The portfolio consists of 14 facilities across nine resident communities and includes 6,850 beds.
Financial terms of the transaction were not disclosed.
The deal was carried out as part of a newly formed joint venture with Greystar Real Estate Partners and was structured under a public-private partnership (P3) model. In addition, the project is fully contracted with the University of Kentucky through coterminous ground leases and affiliation agreements.
Harrison Street said Greystar will continue the day-to-day operation and management of the project in a fully integrated collaborative arrangement with the University of Kentucky.
“In 2011, Greystar (formerly Education Realty Trust) and the University of Kentucky embarked upon a historic multi-phased P3 partnership to replace dated on-campus student residences and dining