Harrison Street acquires two new student housing assets in Kingston, Canada
Harrison Street has purchased a two-property student housing portfolio in Kingston, Ontario, Canada. The adjacent properties (Division and Garrett) consist of a combined 53 residential units and 145 beds.
The two properties, which completed construction during the past year, are currently 100 percent occupied and located in one of the most highly desirable nodes in Kingston, between Queen’s University campus and the downtown entertainment hub. Kingston, recently named one of the best cities to live in as a student in Canada, is seeing growing demand for student housing with estimated market vacancy of less than 1 percent. The acquisition of Division and Garrett provides Harrison Street with direct exposure to Queen’s University, a top Canadian university and student market with approximately 30,000 students, while also providing further diversification for the firm’s open-end Canadian Fund.
The acquisition marks Harrison Street’s Canada Alternative Real Estate