Harrison Street Sells Four Student Housing Assets in the UK

Harrison Street has sold four purpose-built student housing properties in the UK to City Developments Limited (CDL).

The transaction comprises four purpose-built student accommodation assets in Canterbury, Birmingham, Coventry, and Leeds with a total number of 1,657 beds. The assets were individually developed by Harrison Street European Property Partners II alongside two joint venture partners – Linkcity and Crosslane Property Group – and ultimately packaged in a portfolio for sale. The portfolio produced an attractive return with a gross purchase price of £185 million, which represents 33% more than cost basis.

Harrison Street has invested in nearly 215,000 beds throughout North America and Europe since inception in 2005 and has invested approximately €2.5 billion across nearly 55 properties in education and student housing assets throughout the UK, Ireland, France, Germany, and Spain. Additionally, Harrison Street has invested over $20 billion and sold more than $7.5 billion in student housing properties globally since inception.

The seller was represented by JLL, DLA and Deloitte on the transaction.