Harrison Street Closes Ninth U.S. Opportunistic Fund at $2.5B

Harrison Street has closed its ninth U.S. opportunistic real estate fund, Harrison Street Real Estate Partners IX LP, securing approximately $2.5 billion in equity.

Existing investors accounted for nearly 60% of the fund’s capital, and with over $7 billion in buying power, it will leverage the firm’s experience in alternative real estate. To date, Fund IX has allocated close to 70% of its equity across 70 assets spanning alternative sectors, with the largest concentrations in student housing, senior housing, and data centers.

The Fund’s first development project, a student housing asset at the University of Wisconsin, was recently delivered 100% pre-leased. The remaining capital will be used to focus on acquiring “well-located but underperforming assets, as well as those with strained capital structures in need of liquidity, offering distressed pricing.”

“With Fund IX, we have carefully constructed a portfolio that we believe not only seizes on these unique market conditions but will emerge as a strong vintage,” said Christopher Merrill, Harrison Street’s Co-Founder, Chairman, and Chief Executive Officer.