Harrison Street Completes $1.9 Billion Acquisition of Campus Crest Communities

by Katie Sloan

Chicago — Chicago-based Harrison Street Real Estate Capital LLC has completed its $1.9 billion acquisition of Campus Crest Communities Inc. 

The deal closed on March 2, with 99.3 percent of Campus Crest Communities shareholders voting in favor of the merger.

To date, Harrison Street has acquired or developed over 107,000 student housing beds at over 85 universities across the country. As of the close of the transaction, Harrison Street’s total student housing portfolio included over 76,000 beds.

At the time of closing, Campus Crest’s portfolio of student housing properties encompassed over 38,000 beds across the U.S. Harrison Street has retained Asset Campus Housing as the new third-party property manager for the portfolio.

In connection with the closing of the transaction, Campus Crest’s stock ceased to be publicly traded. Raymond James and Associates Inc. acted as financial advisor, and DLA Piper LLP acted as legal advisor to Harrison Street. Moelis & Co. LLC acted as financial advisor, and Kilpatrick Townsend & Stockton LLP acted as legal advisor to Campus Crest. 

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