Harrison Street Real Estate Capital L.L.C. announced that it had raised more than its original goal of US$650 million in equity capital for its new fund, Harrison Street Real Estate Partners IV L.P. Harrison Street is sealing its fourth venture fund after reaching a total capital of US$750 million.
The group of investors who committed to the fund was diverse. The investors included public and corporate pension plans, foundations, insurance companies, family offices, and some endowments. Fund IV will invest in the development and acquisition of real estate in the healthcare, education, and storage sectors.
"Investor interest in our targeted sectors continues to grow given the performance of these asset classes versus traditional property types. However it still remains difficult for investors to access these sectors given the fragmentation in the market. Tenant demand is getting stronger every day for our asset classes, particularly student housing, given the increased number of kids going to college, staying in college longer, lack of capital from universities to build housing," president & CEO of Harrison Street, Christopher Merrill, explained.
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