Harrison Street Launches Investment Fund Focused On Marinas
Harrison Street has launched a new investment fund targeting marinas, according to a Securities and Exchange Commission filing. The move is part of a growing trend of institutional investment in the marina market.
Original reporting · bisnow.com
Original: “Harrison Street Launches Marina-Focused Investment Fund”
Read “Harrison Street Launches Marina-Focused Investment Fund” at Bisnow →)
How this was written. Westchester Made wrote this article with a language model from Bisnow’s reporting (model: @cf/meta/llama-3.3-70b-instruct-fp8-fast); it describes that reporting rather than adding to it. The original, linked above, is the full story.
Key points from Bisnow’s report
- Harrison Street has launched a new investment fund focused on marinas, according to a Securities and Exchange Commission filing.
- The marina market has seen significant growth in recent years, driven by increased demand and favorable lending terms.
- The global marina market could be worth over $40 billion by 2034, driven by a combination of factors including increased demand and the development of mixed-use projects.
- Harrison Street has previous experience in the marina market, having partnered with other firms to acquire marina properties in the past.
- The company's move into the marina market is similar to its earlier entry into the student housing market.
Harrison Street, an asset manager, has filed a disclosure with the Securities and Exchange Commission to launch a new investment fund. The fund will focus on investing in marinas, a market that has seen increased demand and rent growth in recent years. This move is not the company's first foray into the marina market.
The company has previous experience in the marina market, having partnered with other firms to acquire marina properties in the past. For example, Harrison Street teamed up with a marina operator to purchase a property in New Jersey in 2011. The company has also invested in marina properties in Massachusetts.
The marina market has seen significant growth in recent years, driven by increased demand and favorable lending terms. As a result, rent for public marinas has increased, with some areas seeing growth of over 20% in recent years. Occupancy rates for marinas have also been high, with many boasting occupancy rates of over 95%.
The growth in the marina market is expected to continue in the coming years, with some predictions suggesting that the global marina market could be worth over $40 billion by 2034. This growth is being driven by a combination of factors, including increased demand and the development of mixed-use projects on waterfront properties.
Harrison Street's move into the marina market is similar to its earlier entry into the student housing market. The company has a history of investing in emerging markets and has seen significant returns on its investments in the student housing sector. The company's global chief investment officer has stated that the firm is focusing on properties near certain universities for future transactions.
The launch of the new investment fund is part of a larger trend of institutional investment in the marina market. Other investors have also been active in the sector, with several large investment deals taking place in recent years. The growth in the marina market is expected to continue, driven by favorable market conditions and increased demand.
The company's decision to launch a new investment fund focused on marinas is a significant development in the market. It reflects the growing interest in the marina market and the potential for investment returns in this sector. As the market continues to grow, it is likely that other investors will follow Harrison Street's lead and invest in marina properties. This article is based on reporting by Bisnow.
Questions and answers
What type of properties will the new investment fund focus on?
The new investment fund will focus on investing in marinas, a market that has seen increased demand and rent growth in recent years.
What is driving the growth in the marina market?
The growth in the marina market is being driven by a combination of factors, including increased demand and the development of mixed-use projects on waterfront properties.
How much could the global marina market be worth by 2034?
The global marina market could be worth over $40 billion by 2034, according to some predictions.
