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Harrison Street Divests $1.9B of Student Housing Properties
A week after acquiring a self-storage portfolio across six states, Chicago-based Harrison Street was a seller, trading a total of 37 student housing properties for a combined $1.9 billion. The buyers were UK-based Global Student Accommodation (GSA) and a joint venture affiliated with the Chicago-based Scion Group. Deal terms weren’t disclosed.
GSA acquired 12 properties and 8,182 beds across 12 universities. The Scion venture bought 25 properties and 15,817 beds across 19 universities.
Christopher Merrill, Harrison Street’s co-founder, chairman and CEO, said, “The two large-scale transactions reflect Harrison Street’s longstanding strategy of acquiring or developing individual assets at leading universities, executing on defined business plans, and exiting via strategic portfolio sales. GSA and Scion are among the world’s most sophisticated and well-respected real estate investors and operators, and these dispositions are emblematic of our strong student housing track record and ability to create value for our investors and partners.”
- ◦Sale/Acquisition
