The sale-leaseback deal, completed through a JV with Fetner Properties, follows the fund's conversion from a tender offer to an interval structure, while still being taxed as a REIT.
The firm reported a 14% QoQ increase in private wealth inflows, supported by growth across its evergreen funds and easing redemption pressure in its credit and real estate vehicles.
Real estate investment firm Brixton Capital contributed the property through a tax-deferred 721 exchange in return for partnership units.
The deal marks the trust's fourth acquisition with Sterling Organization in 2026 and brings its portfolio to 13 properties.
The transactions add multifamily, mixed-use, and industrial assets across Atlanta, Dallas, and Columbus.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
The investment was made through a joint venture with specialized real estate investment firm the Sterling Organization.
Flagship Healthcare Trust has purchased a Class A medical outpatient building and ambulatory surgery center, anchored by physician-led ophthalmology practice Graystone Eye.
The interval fund joins a lineup of vehicles managed by Neuberger, StepStone, and Nuveen across private credit, multi-asset, real estate, and venture strategies.
The Evanston Multi-Alpha Fund's shareholders also approved its future conversion from a tender offer fund to a daily-NAV interval fund, expected in the first half of 2027.
