Harrison Street, an alternative real asset investment firm dedicated to the Education, Healthcare and Storage sectors, closed its second European closed-end fund, Harrison Street European Property Partners II, L.P., at €500m.
The firm also raised an additional €200m of equity capital in a co-investment vehicle.
Fund II received strong backing from existing Harrison Street investors and welcomed a number of new investors from across the globe. Its strategy is consistent with the predecessor fund’s investment approach to provide innovative and flexible capital solutions to the student accommodation market in the United Kingdom, Germany, Ireland, France, Spain, the Netherlands and the Nordics. It also targets investments in specialty residential properties, including micro-living and private rental units.
To date, Fund II has committed more than €400 million in equity across 24 assets in Europe.
It is the successor fund to Harrison Street European Property Partners L.P., which completed fundraising in May 2015 with €235 in capital commitments. It is fully committed to investments and has already returned more than 44% of its capital to investors.
Harrison Street currently manages 15,000 student housing beds in Europe, and since inception in 2005 has invested more than $11.6 billion in nearly 150,000 student beds with 145 universities across the U.S. and Europe.