Harrison Street closes seventh opportunistic real estate fund at $1.3b

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 gr