Chicago’s Harrison Street enters Europe with €135m for student housing
Chicago-based investment manager Harrison Street is poised to make its entry into European real estate after raising some €135m for deals in the student housing sector in the UK and across the continent.
Harrison Street said in a release Thursday that the €135m is the first close for the fund and it is targeting €300m commitments in total. The firm’s US regulatory filings show it has raised $115m (€103m) for a co-investment vehicle and another $40m (€36m) for commingled fund. The latter remains open and is targeting a further $189m (€169m), which would give total equity of €204m, and investment capacity over €300m when combined with co-investment. It is Harrison Street’s first fund targeted at Europe following five closed-end and one open-end fund targeted at the US.
The UK and European student housing markets offer a unique opportunity to generate attractive risk-adjusted returns for our investors, similar to what we have experienced over the past decade in the US,” …