Harrison Street has successfully closed its Harrison Street Real Estate Partners IX, L.P. fund, raising over $2.5 billion in capital commitments. With a total buying power of more than $7 billion, the fund will focus on various product types including student housing, senior housing, and data centers.
The fund aims to acquire underperforming assets and those with strained capital structures in need of liquidity. Harrison Street is responding to historically low levels of new supply in targeted sectors, particularly in senior living where demand is outpacing available communities.
The senior living industry has seen a minimal amount of construction in recent years, with Harrison Street being a key capital partner in the sector. Investor interest in alternative real estate sectors is growing, prompting Harrison Street to leverage its expertise to meet this demand.
Harrison Street has raised over $30 billion in equity to date, with investments in 42,000 senior housing units, making it one of the largest owners of senior housing communities in the U.S.
