Harrison Street Forms Joint Venture with Greystar to Recapitalize 6,850-Bed On-Campus Portfolio in Kentucky

Lexington, Ky. — Harrison Street has acquired a minority interest in a portfolio of on-campus housing at the University of Kentucky in Lexington as part of a newly formed joint venture with Greystar Real Estate Partners. The investment is structured under a public-private partnership (P3) model in which Greystar will continue the day-to-day operation and management of the 6,850-bed portfolio in collaboration with the University of Kentucky. The portfolio is comprised of nine residential communities with an average age of five years. “The University of Kentucky launched this groundbreaking initiative in 2011 and it has since become a signature, landmark higher education P3 in the U.S.,” says Christopher Merrill, co-founder, chairman and CEO of Harrison Street. “We look forward to bringing our expertise in providing strategic capital to ensure the university’s students have access to high-quality living arrangements that facilitate their academic experience on campus.”