Kentucky Retirement makes $300m follow-on to Harrison Street Core Property Fund

Kentucky Retirement Systems (KRS) is planning to invest $300 million in Harrison Street Core Property Fund, an open-end core real estate fund that focuses on stabilized properties in the healthcare, education and storage sectors.

The fund launched in 2011 and has built a portfolio of more than 300 healthcare, education and storage properties across 36 states and 72 metro areas during the past decade, according to a KRS meeting document. The portfolio currently consists of roughly 70 percent healthcare, 20 percent student housing and 10 percent self-storage. Within healthcare, medical office and senior housing each comprise around 30 percent of the total portfolio.

As of December 2020, the core fund had accumulated some $10 billion of gross asset value and $7.5 billion of net asset value.

KRS is a founding investor in the f