Harrison Street holds first close for opportunistic fund
Harrison Street Real Estate Capital has held a first close for its fifth opportunistic fund, Harrison Street Real Estate Partners V, raising more than half of its $750 million target. The fund has an $850 million hard cap.
The firm declined to comment on its fundraising efforts.
The vehicle follows the same strategy of its predecessor, Harrison Street Real Estate Partners IV, which closed with $750 million in July 2013, exceeding its $600 million target. The opportunistic fund series specializes in investing in niche property types such as medical office, student housing, self-storage and senior housing/assisted living.
Earlier this month, the $24.5 billion Texas County & District Retirement System and the $6.5 billion District of Columbia Retirement Board invested in the fund.
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