Fundraising - JANUARY 27, 2015

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Harrison Street fund exceeds $750m goal

by Andrea Waitrovich

Harrison Street Real Estate Capital has announced its final close for its fifth opportunistic fund, Harrison Street Real Estate Partners V, exceeding its $750 million original equity target and reaching its $850 million hard cap goal.

Fund V will invest in student housing, senior housing, medical office/healthcare properties and self-storage properties largely on a single-asset acquisition or development basis.

In addition, the firm simultaneously raised a $160 million Fund V Co-Investment vehicle, bringing the total capital raised for the opportunistic strategy to more than $1.0 billion. It has a $3.5 billion in purchasing power for real estate in the education, healthcare and storage sectors. 

From first close to final close, the firm raised this amount in three months.

Investor interest in these sectors has continued to rise given the lack of cyclicality inherent in needs-based, demographically driven real estate, which offers more co

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