has raised $2.5bn (鈧�2.15bn) for its eigthth US opportunistic real estate fund, it鈥檚 largest-ever closed-ended fund.
Harrison Street Real Estate Partners VIII reached its $2bn 鈥榟ard cap鈥� and secured an additional $510m in co-investment capital, giving it buying capacity of more than $8bn. The company said 75% of the commitments came from existing investors.
It is the latest in the company鈥檚 series of funds that focus on 鈥渄emographic-driven investment opportunities鈥� in the US, including student housing, senior housing, healthcare delivery, medical offices, life-science and storage real estate.
Since launching its fund in 2006, Harrison Street said it had invested in approximately 108,000 student housing beds, 27,000 senior housing units, 8.7m sqft of medical office space, 1.4m sqft of life sciences, over 115,000 storage units, 500,000sqft of data centres, and 1,675 units of single-family housing.
Christopher Merrill, Harrison Street鈥檚 co-founder, chairman and CEO, said the company鈥檚 ability to raise its largest-ever fund 鈥渁mid a black-swan event鈥� was 鈥漷estament to the resiliency of our asset classes, the strength of our investment platform, and confidence placed in us by our global investors, both existing and new鈥�.
He said the first half of 2021 was one of the most active periods in the firm鈥檚 history.
