Harrison Street, a real estate investment firm, has announced the sale of 14 student housing properties for $893 million. The assets were purchased by affiliates of The Scion Group and a major institutional investor.
The portfolio consists of 8,724 beds located near universities in 11 states across the U.S., including popular schools like the University of Arkansas, Texas A&M and the University of Missouri. According to Christopher Merrill, Co-Founder, Chairman and CEO of Harrison Street: “Investors are increasingly interested in alternative real estate sectors due to their strong fundamentals and proven performance in various market conditions.” He also stated that Harrison Street is well-positioned to take advantage of this growing demand for alternative real estate investments.
In addition to this sale, Chicago-based Harrison Street recently sold three senior living properties to Inland Group. Ben Mohns , Head Of Asset Management – North America at Harrison Street commented on their success: “We continue to see a rising interest in alternative real estate investments and are projected to close over $4 billion worthof dispositions this year from our nine funds with more than 80 assets spanning across different verticals such as student housing,senior living facilities healthcare centers storage units digital infrastructure.”
This news was originally reported by Connect CRE.
