Harrison Street raises €700m in equity for second European fund

Harrison Street Real Estate Capital has held a final close for its second European closed-end fund, Harrison Street European Property Partners II, at €500 million ($560 million) in equity commitments, in excess of its target of €400 million ($448 million).

Harrison Street also raised an additional €200 million ($224 million) of equity capital in a co-investment vehicle. This equity capital provides more than €2 billion ($2.2 billion) in buying power. Fund II and the co-investment vehicle were over-subscribed.

Fund II’s strategy is consistent with the predecessor fund’s investment approach to provide innovative and flexible capital solutions to the student accommodation market in the United Kingdom, Germany, Ireland, France, Spain, the Netherlands and the Nordics. Fund II also targets investments in specialty residential properties, including micro-living and private rental units, which exhibit similar demand drivers and demographic characteristics to the