History

The firm was founded at the end of 2005 by real estate veteran, Christopher Merrill, in partnership with Chris and Mike Galvin (of the founding family of Motorola). The firm takes its name from the place in which Motorola began life. Motorola started out as the Galvin Manufacturing Company located on HARRISON STREET in Chicago. It is in this spirit of innovation, integrity and investment prowess that Harrison Street Real Estate Capital operates its business. Some of the key milestones in the firm's history follow: 

  • September 2005:  Harrison Street Real Estate Capital founded
  • August 2006:  Fund I holds First Closing
  • December 2006:  AUM of $390 Million
  • June 2007:  Fund I holds Final Close at $208.5 Million of capital commitments
  • December 2007:  AUM of $700 Million
  • July 2008:  Fund II holds Final Close at $431.6 Million of capital commitments
  • December 2008:  AUM of $1.5 Billion
  • June 2009:  Closed $135M deal with Extra Space Storage making the firm the 7th largest owner of storage by sq. ft. in the US
  • December 2009:  AUM of $2.0 Billion
  • June 2010:  Fund III holds First Closing
  • October 2010:  First Disposition in conjunction with JV Partner IPO, Campus Crest (NYSE: CCG)
  • December 2010:  AUM of $2.5 Billion
  • December 2010:  Acquired REIT Securities advisory firm from Transwestern (Harrison Street Securities LLC)
  • March 2011:  Since inception have raised $1 Billion in capital
  • June 2011:  Fund III holds Final Close at $595.5 Million of capital commitments
  • October 2011:  Harrison Street Advisors, LLC becomes a Registered Investment Adviser with the SEC
  • November 2011:  Harrison Street Core Property Fund holds First Closing
  • December 2011:  AUM of $3.5 Billion
  • May 2012:  Tonia Nelson promoted to Chief Risk Management Officer, responsible for all enterprise-wide risk management issues
  • July 2012:  Harrison Street forms joint ventures with its 35th operating partner
  • December 2012:  Firm AUM of $4.0 Billion
  • October 2012:  Harrison Street Core Property Fund cumulative investor commitments > $400M, including first foreign investor  
  • February 2013: Harrison Street Real Estate Partners IV, LP held first close of $465 Million or 75% of targeted amount
  • July 2013:  Fund IV holds Final Close at $750 Million of capital commitments
  • October 2013:  Harrison Street sells 43 self storage properties for approximately $315 million
  • December 2013:  Firm AUM of $5.8 Billion
  • March 2014:  PERE Awards, Harrison Street named in top three "Firm of the Year" North America category
  • May 2014:  PERE ranks Harrison Street #38 out of the 50 largest private equity real estate firms in the world
  • October 2014:  Fund V holds First Closing
  • December 2014:  Pensions & Investments named Harrison Street in top three "Best Places to Work" Alternative Managers category
  • January 2015: Fund V holds Final Close at $850 Million of capital commitments & a $160 Million Co-Investment vehicle