Harrison Street Real Estate Capital, a real estate-focused private equity firm, has closed its sixth U.S. opportunistic real estate fund at $950 million, beating its $850 million. Also, the firm has raised $205 million in co-investment funds. Harrison Real Estate Partners VI LP has secured commitments from over 65 institutional backers. So far, the fund has committed $310 million across 34 properties and 17 states.
CHICAGO – June 29, 2017 — Harrison Street Real Estate Capital, LLC (“Harrison Street” or the “Firm”), one of the largest private equity firms focused on real estate investments dedicated to the Education, Healthcare and Storage sectors, today announced that it has closed its sixth U.S. opportunistic real estate fund, Harrison Street Real Estate Partners VI, L.P. (“Fund VI”) at $950 million in equity commitments, in excess of Fund VI’s target of $850 million. Harrison Street also raised $205 million of additional equity capital in co-investment vehicles.
Fund VI’s strategy is consistent with Harrison Street’s opportunistic fund series to provide innovative and flexible capital in the needs-based real estate market. Fund VI received strong backing from existing Harrison Street investors, representing approximately 70% of total committed capital, and welcomed a number of new investors from across the globe. In total, Harrison Street received commitments to Fund VI from more than 65 institutional investors.
Christopher Merrill, Co-Founder, President and CEO of Harrison Street, said, “We are pleased with the support Harrison Street Real Estate Partners VI has received from a high-quality base of both new and existing investors. As capital needs intensify at the top public universities and health systems – groups in need of flexible and innovative capital solutions – we are well positioned to leverage our long-standing relationships to solidify our role as the partner of choice for these institutions.”
Merrill added, “Our differentiated, disciplined and rigorous investment approach, and deep focus on resilient sectors driven by favorable demographic trends, has generated exceptional risk-adjusted performance across cycles for our investors. Moreover, our team, comprised of experienced investment professionals and operating partners who are also industry experts in our core sectors, provide unparalleled knowledge and insights that uncover unique investment opportunities.”
Harrison Street is currently investing through its U.S. Opportunistic, Core and European Opportunistic Funds. Fund VI has already committed $310 million across 34 properties and 17 states. The Firm is also committed to broadening its efforts in the public-private partnerships space as well, having closed five deals with a combined value more than $405 million. Since inception in 2005, Harrison Street has invested $17.1 billion across 693 properties in Education, Healthcare and Storage real estate. During this period, the Firm has sold more than 300 properties for a gross transaction value of $6.5 billion.
About Harrison Street Real Estate Capital
Harrison Street Real Estate Capital LLC is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. The firm has created a series of differentiated investment strategies across multiple risk/return platforms. Headquartered in Chicago with an office in London, the firm employs a 95+ person team and has approximately $12.2 billion in assets under management. For more information, please visit www.harrisonst.com.