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Analysis

A $2B Bet on Demographics

The fund, currently at an estimated $2 billion, uses a strategy that follows demographics, not property types.

Alternative real asset investment manager Harrison Street with $56 billion assets under management, has devoted one fund, now at $2 billion and potentially expanding to $4 billion, with one focus on the growing 80-plus age range, according to PERE. And that’s going to mean senior housing.

The firm’s Harrison Street Real Estate Partners Fund IX, launched in 2022, had more than $1 billion by September 2023. The target is $3 billion, which would be its largest ever, and there’s a cap of $4 billion.

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Erik Sherman

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