Investment-management firm Harrison Street Real Estate Capital LLC (HSRE), which has extensive interests in “needs-based” real estate, including self storage, has acquired a portfolio of 15 self storage properties in Arizona, California, Colorado and Minnesota.
Ryan Cos. US Inc. has acquired an 11-acre land parcel in the Nashville suburb of Hendersonville. The buyer will use the property to build Clarendale at Indian Lake, a $48.5 million, 189-unit independent living, assisted living and memory care community.
San Francisco City & County Employees’ Retirement System disclosed it made $450 million in commitments in closed session to a total of seven funds.
Once an overlooked niche, the student housing sector is attracting increased attention from major investors, who see the sector as offering less rental growth volatility and a recession-resistant hedge to conventional apartments.
With the parcel once occupied by Lincoln Park’s Children’s Memorial Hospital completely cleared and ready for redevelopment, the first all new building slated for the prominent six acre site is ready to take root. Late last week, the City of Chicago issued a construction permit for a seven story assisted living building at 700 W. Fullerton Parkway.
Harrison Street Real Estate Capital was one of the portfolio sellers in the joint venture’s latest deal. The Canada Pension Plan Investment Board and Singaporean sovereign wealth fund GIC Private Limited have expanded their US student housing platform with three portfolio deals acquired for $1.6 billion, according to a joint statement.
March 2017Dublin Mill Street Development On Track
International student accommodation company GSA is on target to deliver its latest 400-bed development in Dublin. The development, which also includes shops, restaurants, cafes and a gym, is to be built on a 2.5 acre site on Mill Street in Newmarket in the southwest inner city. It is expected to be complete by September.
A $125 million assisted living facility that will have a special focus on dementia patients was recently approved to be built in Jericho. HSRE-EB, a partnership of Engel Burman Group and Harrison Street, also plans to gift 8.5 acres of undeveloped land at the 10-acre site to the Town of Oyster Bay to be preserved forever.
Harrison Street purchased two medical office buildings in Northeast Philadelphia for $17 million. The buildings are currently occupied by Thomas Jefferson University Hospital. The buildings, which total 86,000 square feet, are 94.7 percent leased.
February 2017Harrison Street Enters JV For French Student Housing
PARIS—Continuing its foray into European markets, Harrison Street Real Estate Capital has formed a joint venture with student housing developer HPC Group and its subsidiary Oceanis Promotion.