Harrison Street Brings Alternative Investment Expertise to Canada
August 26 2021 - 10:25AM
Harrison Street, one of the leading investment management firms
exclusively focused on alternative real assets, today announced it
is bringing its significant expertise investing in
demographic-driven alternative assets to the Canadian market and
will pursue investments in senior living, student housing, medical
office, life sciences, storage, and digital assets throughout
Canada. Harrison Street Canada Alternative Real Estate Fund
recently completed its first closing and, based on committed
capital and targeted leverage, anticipates initial capacity to
invest over CAD$550 million in stabilized, cash-flow producing
assets with up to 35% invested in value-add strategies. The Fund
has received capital commitments from accredited investors,
including a variety of institutional investors and prominent
Canadian family offices, such as the Hennick Family and senior
executives of the firm.
Christopher Merrill, Co-Founder, Chairman and CEO at Harrison
Street, said, “For more than 15 years, Harrison Street has been a
first mover in highly differentiated, demographic driven real
estate, first in the United States and then Europe. Now, we are
thrilled to bring our deep expertise and track record to the
Canadian market. Demographic characteristics in Canada are like
those we see in the United States, however, alternative real estate
remains underdeveloped compared to the U.S. market. Our expansion
into the Canadian market is a natural evolution to our platform and
we look forward to identifying attractive investment opportunities
for our global investors and partners in the alternative real asset
space in Canada.”
Jonathan Turnbull, Managing Director and Head of Canadian
Transactions for Harrison Street, added, “Similar to how Harrison
Street has built its business in the U.S. and Europe, relationships
with best-in-class developers and operators on a local and national
level is a critical component to our successful execution in
Canada. Accordingly, we have a robust and actionable pipeline of
off-market opportunities with multiple partners across our sectors
of focus and several investments, closing in the near term, are in
partnership with operators who are new to the Harrison Street
platform. Additionally, our strategic alignment with Colliers, one
of the top global players in commercial real estate will further
amplify our reach into the market.”
About Harrison Street
Harrison Street is one of the leading investment management
firms exclusively focused on alternative real assets. Since
inception in 2005, the firm has created a series of differentiated
investment solutions focused on demographic-driven, needs-based
assets. The firm has invested across senior housing, student
housing, healthcare delivery, life sciences and storage real estate
as well as social and utility infrastructure. Headquartered in
Chicago with offices in London and Toronto, the firm has more than
195-employees and approximately $36 billion in assets under
management and is owned by its senior leadership team in
partnership with Colliers International Group Inc, one of the top
global players in commercial real estate, creating long-term
stability and strong alignment with investors. Clients of the firm
include a global institutional investor base domiciled in North
America, Europe, Middle East, Asia and Latin America. Harrison
Street has been awarded Best Places to Work by Pensions &
Investments for the last seven consecutive years and was named 2020
Global Alternatives Investor of the Year by PERE. For more
information, please visit www.harrisonst.com.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified
professional services and investment management company. With
operations in 66 countries, our more than 15,000 enterprising
professionals work collaboratively to provide expert advice to real
estate occupiers, owners and investors. For more than 25 years, our
experienced leadership with significant insider ownership has
delivered compound annual investment returns of almost 20% for
shareholders. With annualized revenues of $3.3 billion ($3.6
billion including affiliates) and $45 billion of assets under
management, we maximize the potential of property and accelerate
the success of our clients and our people. Learn more at
corporate.colliers.com, Twitter @Colliers or LinkedIn.
Media contacts:
Nathaniel Garnick/Grace Cartwright Gasthalter & Co. (212)
257-4170
Andrea CheungGlobal Manager,
CommunicationsColliersandrea.cheung@colliers.com416-324-6402
This information is not intended to be an offer or solicitation
to buy or sell securities. Any such offer or solicitation will be
made only by means of the Confidential Offering Memorandum relating
to the Fund. Access to information about the Fund is limited to
investors who qualify as “accredited investors” in the applicable
Canadian jurisdiction, pursuant to other prospectus exemptions, or
internationally, pursuant to local laws.
Forward-Looking Statements
In addition to historical information, this press release
contains financial projections and other forward-looking statements
that involve risk and uncertainty. These statements are based on
current expectations, estimates, projections and assumptions made
by management. Sentences or phrases that use words such as
"expects", "believes", "anticipates", "hopes", "plans", "may",
"can", "will", "projects," and others, are often used to indicate
forward-looking statements, but their absence does not mean a
statement is not forward-looking. By their very nature, such
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
projected. Many of these uncertainties and risks are difficult to
predict and beyond Harrison Street’s control. Forward-looking
statements are not a guarantee of future performance, results or
events. Harrison Street assumes no obligation to update or
supplement forward-looking statements that become untrue because of
subsequent events.
Colliers (NASDAQ:CIGI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Colliers (NASDAQ:CIGI)
Historical Stock Chart
From Jul 2023 to Jul 2024