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Wealth

KKR Strikes $725 Million Deal to Sell Student-Housing Properties

Harrison Street buys 4,500-bed portfolio as dorms promise higher returns than apartment investments.

KKR manages student housing through its portfolio firm, University Partners, which runs dorms mostly at growing public colleges.
KKR manages student housing through its portfolio firm, University Partners, which runs dorms mostly at growing public colleges.

KKR & Co. has sold seven US student-housing properties to Harrison Street, a deal that shows continued strength for the sector even as other residential and commercial real estate markets cool.

The price for the portfolio, with 4,500 beds, was $725 million, according to people with knowledge of the deal. Representatives for KKR and Harrison Street declined to comment.