Harrison Street raises $1.3bn

The US-based investment management firm closes seventh opportunistic real estate fund at hard-cap.

Harrison Street Real Estate Capital has held a final close of Harrison Street Real Estate Partners VII at its $1.3 billion hard-cap, surpassing the initial target of $950 million. The firm also corralled $302.5 million in co-investments alongside the main fund. Its seventh opportunistic real estate fund invests in senior housing, healthcare, student housing, life sciences, and storage.

The investors in HSREP VII include the Teacher Retirement System of Texas, which committed $150 million, and the Texas County and District Retirement System, which pledged $50 million.

Harrison Street Real Estate Partners VI closed at $950 million in June 2017.