Harrison Street has completed the final closing of its third European alternative real estate fund, Harrison Street European Property Partners III.

The fund raised more than €800 million of equity from more than 25 institutional investors around the globe. Fund III is 75 percent commit-ted and includes a life sciences portfolio of more than 2 million square feet (185,800 square metres), making Harrison Street one of the largest private real estate owners of life sciences assets in the United Kingdom. The fund is also invested in build-to-rent and student accommodation assets in the United Kingdom, Ireland and Spain. The firm expects to make additional investments in the near term, expanding Harrison Street’s footprint to the Netherlands, Denmark, Italy and Portugal.

DRC Savills Investment Management (DRC SIM), the real estate debt financing arm of Savills Investment Management, has also completed a final close of its fourth fund in its high-yield debt strategy, Eur