{"id":1004346977,"date":"2019-08-21T03:27:04","date_gmt":"2019-08-21T11:27:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004346977"},"modified":"2021-05-15T05:12:37","modified_gmt":"2021-05-15T13:12:37","slug":"harrison-street-closes-fund-with-4b-in-buying-power","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/","title":{"rendered":"Harrison Street Closes Fund With $4B in Buying Power"},"content":{"rendered":"
\"\"<\/a>

Osborn Triangle in Cambridge, Mass., recently acquired by Harrison Street. Image courtesy of Harrison Street<\/em><\/p><\/div>\n

Harrison Street has completed the final close of Harrison Street Real Estate Partners VII LP, surpassing its original goal of $950 million to reach its hard cap of $1.3 billion. And with an additional $302.5 raised in co-investment vehicles, Fund VII closes with a total of $1.6 billion in capital commitments, which translates to roughly $4 billion in buying power. <\/p>\n

\n

READ ALSO:<\/strong> Ares Management Closes European Fund at $2B<\/a><\/p>\n

\n

The fund is the seventh of Harrison Street\u2019s closed-end opportunistic funds, which launched in 2006 with a focus on the education, health-care and storage sectors. The fund series has since built a strong following, as evidenced by its over-subscriptions\u2014Fund VI exceeded its $850 million target<\/a> by $100 million and closed with a total capital raise of $1.1 billion\u2014as well as the composition of investors. <\/p>\n

Existing investors accounted for approximately 65 percent of the total capital contributed to Fund VII, which attracted more than 60 global institutional investors. The long list of participants in the capital raise includes Texas County & District Retirement System, which contributed $50 million to Fund VII in 2018 after having contributed the same amount to Fund VI in 2016.<\/p>\n

Putting the capital to work<\/h2>\n

Harrison Street expects that more than 50 percent of the investment vehicle\u2019s final portfolio will consist of senior housing, health-care delivery and life sciences assets. Harrison Street has not identified specific funds in recent transaction announcements.<\/p>\n

However, the list of deals includes the acquisition of the 677,000-square-foot Osborn Triangle Portfolio<\/a>, a complex of office and laboratory facilities in Cambridge, Mass. The firm, acting in a joint venture with Bulfinch Cos., purchased the asset from a subsidiary of the Massachusetts Institute of Technology for a whopping $1.1 billion. To date, approximately 26 percent of Fund VII\u2019s capital has been committed.<\/p>\n

Multi-tasking<\/h2>\n

In addition to its U.S. opportunistic fund series, Harrison Street is presently investing through its core real estate fund, social infrastructure fund and European opportunistic fund series. The firm is thriving, as noted during the second-quarter earnings conference call of Colliers International, which acquired a 75 percent interest in Harrison Street<\/a> in 2018.<\/p>\n

\u201c<\/em>Harrison Street, unlike most, remains very, very focused on alternate asset classes, which gives them a clear differentiator in the market and it’s attracting a lot of investment dollars,\u201d<\/em> Jay Hennick, CEO of Colliers International, said during the conference call on July 30.<\/p>\n","protected":false},"excerpt":{"rendered":"

The opportunistic investment vehicle exceeded its original target and reached its $1.3 billion hard cap.<\/p>\n","protected":false},"author":969,"featured_media":1004325341,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21783,23891,21742],"tags":[32763,44141,40380,45626],"class_list":["post-1004346977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-investment","category-national","category-latest","tag-colliers-international","tag-harrison-street","tag-jay-hennick","tag-massachusetts-institute-of-technology"],"acf":[],"yoast_head":"\nHarrison Street Closes Fund With $4B in Buying Power - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harrison Street Closes Fund With $4B in Buying Power\" \/>\n<meta property=\"og:description\" content=\"The opportunistic investment vehicle exceeded its original target and reached its $1.3 billion hard cap.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-21T11:27:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T13:12:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/\",\"name\":\"Harrison Street Closes Fund With $4B in Buying Power - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png\",\"datePublished\":\"2019-08-21T11:27:04+00:00\",\"dateModified\":\"2021-05-15T13:12:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png\",\"width\":400,\"height\":300},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Harrison Street Closes Fund With $4B in Buying Power\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Harrison Street Closes Fund With $4B in Buying Power - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/","og_locale":"en_US","og_type":"article","og_title":"Harrison Street Closes Fund With $4B in Buying Power","og_description":"The opportunistic investment vehicle exceeded its original target and reached its $1.3 billion hard cap.","og_url":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-08-21T11:27:04+00:00","article_modified_time":"2021-05-15T13:12:37+00:00","og_image":[{"width":400,"height":300,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png","type":"image\/png"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/","url":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/","name":"Harrison Street Closes Fund With $4B in Buying Power - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png","datePublished":"2019-08-21T11:27:04+00:00","dateModified":"2021-05-15T13:12:37+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png","width":400,"height":300},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/harrison-street-closes-fund-with-4b-in-buying-power\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Harrison Street Closes Fund With $4B in Buying Power"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/scott-02.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004346977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004346977"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004346977\/revisions"}],"predecessor-version":[{"id":1004533462,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004346977\/revisions\/1004533462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004325341"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004346977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004346977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004346977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}