Chicago — Harrison Street Real Estate Capital has completed the first closing of its Harrison Street Real Estate Partners III fund. The fund has raised $165 million to date and expects to raise a total of $500 million, which the company estimates will give it approximately $1.75 billion in purchasing power. Harrison Street currently focuses on the acquisition of real estate assets that include off-campus student housing, senior housing, medical office buildings and self-storage properties. Year to date, the company has complete more than $250 million in new investments. These include an investment in the development of an off-campus student housing serving Texas Tech as well as the acquisition of an off-campus student housing community at Indiana University. Harrison Street’s portfolio of owned and managed properties includes 13,780 beds of student housing.
— Coleman Wood