Harrison Street forms European student housing JV

Harrison Street Real Estate Capital, one of the largest real estate investment firms dedicated to the education, healthcare and storage sectors, has formed a joint venture with Crosslane Property Group U.K. Limited, a student-centric real estate company specializing in acquiring, developing and managing purpose-built student accommodation (PBSA) assets across the U.K. and Continental Europe.

Initially, the joint venture will jointly develop a portfolio of four high-quality PBSA properties totaling 1,267 beds located in Leeds, Coventry, Portsmouth and Swansea, which are top-tier regional U.K. university cities with a combined enrolled student population of more than 131,000. Gross development value for the four properties is £125 million ($175 million).

Harrison Street is one of the largest owners of student housing in the United States and Europe. The firm has invested in more than 125,000 student beds, and its European student housing portfolio comprises more than 7,