Alternative real asset investment firm Harrison Street has completed a final close of its seventh U.S. opportunistic real estate fund, Harrison Street Real Estate Partners VII, at a hard cap of $1.3 billion, exceeding its original $950 million target.
Harrison Street raised an additional $302.5 million in co-investment vehicles to invest alongside Fund VII for a total of $1.6 billion of equity raised and total buying capacity of approximately $4 billion.
Building upon Harrison Street’s existing opportunistic fund series, Fund VII is designed to provide innovative and flexible capital to demographic-driven, needs-based assets across the senior housing, healthcare, student housing, life sciences and storage sectors.
Fund VII has committed 26 percent of its equity capital and expects more than half of the portfolio to be comprised of senior housing, healthcare delivery and life science investments as demand drivers include an aging population that continues to grow and live longer.
Over 60 global institutional investors committed to Fund VII. Harrison Street received significant support from existing investors who contributed nearly 65 percent of the total committed capital to the fund, in addition to new limited partners.
Since inception in 2005, the firm has invested in 957 properties across 47 states with a gross cost of $28.1 billion. Harrison Street is currently investing through its U.S. and European opportunistic fund series, as well as its core real estate and social infrastructure open-end funds.
Harrison Street is one of the largest alternative real asset investment firms dedicated to the education, healthcare and storage sectors. The firm has raised nearly $16 billion in discretionary capital from over 375 investors throughout the world, to date.
