Harrison, Landmark In $100M Student Housing JV

CHICAGO-Harrison Street Real Estate Capital and Landmark Properties, and its affiliated entity Retreat Holdings, have formed a $100 million joint venture to develop and manage student housing. The new partnership will focus on the creation of new student cottage communities nationwide, and already has two projects underway.

The $100 million investment is only the beginning of a lengthy venture, says Christopher Merrill, co-founder, president and CEO of Chicago-based Harrison, which has the majority stake in the equity.

“Frankly, this is just the start so there’s not a set amount and we expect to grow it over time,” Merrill tells GlobeSt.com. “We’re probably one of the top 10 companies in terms of ownership of student housing now, and it’s a good long-term business to be in.” Current projects of the partnership include The Retreat at Lake Tamaha and The Retreat at Knoxville.