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. The Chicago-based investment management firm will partner with HPC-Oceanis to develop a portfolio of branded, high-end student accommodations in major university cities throughout France.

First out of the gate will be ECLA Paris, which will serve students at the University of Paris-Saclay Campus. It will have 1,200 beds, with amenities including study lounges, a fitness center, IT & music studios, restaurants and high-end services, including language support in Mandarin, Spanish, English and French. The project is expected to be delivered in time for the start of the 2018 semester.

“France has a large and growing student population and is one of the most attractive, dynamic markets for higher education in Europe,” says Daniel Gorzawski, head of Europe of Harrison Street. “We are excited to be partnering with HPC-Oceanis, a best-in-class developer and operator of student housing in France, and are confident that Harrison Street's significant experience investing in student housing throughout the US and Europe will serve our partners and investors well as we continue to expand our European presence.”

Harrison Street is among the largest owners of student housing in the US, and is currently investing on behalf of its first European fund, Harrison Street European Property Partners LP. The fund exclusively focuses on acquisition and development of student housing throughout Europe. France represents the third European market that Harrison Street has successfully entered, bringing its European student housing portfolio to over 4,500 beds in ownership or under construction.