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Transactions - OCTOBER 22, 2021

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EXCLUSIVE — Harrison Street forms student housing JV with Greystar

by Kali Persall

Harrison Street has formed a joint venture with Greystar to acquire a significant minority interest in a public-private partnership (P3) of on-campus student-housing assets, spanning five prominent universities.

The portfolio consists of 3,833 beds at Cornell, Boise State, Lehigh, Mississippi State and Northern Michigan.

After the transaction, Greystar will continue day-to-day operation and management of the portfolio in collaboration with the universities’ housing departments.

Christopher Merrill, co-founder, chairman and CEO of Harrison Street, called the portfolio unique, adding that it has “thoughtful academic-focused amenities at some of the country’s most prestigious institutions. We are excited to deepen our strong relationship with Greystar as we continue to identify creative ways to provide strategic capital and bring our significant resources to bear to benefit our partners and investors alike.”

The transaction builds on Greystar and Har

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