Student Housing Daily - May 21, 2026 - Harrison Street sells $910M portfolio

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NEWS ROUNDUP

DISPOSITION: Harrison Street sells $910 million student housing portfolio. Harrison Street has sold a 12-property U.S. student housing portfolio for $910 million to affiliates of The Scion Group and a global institutional investment manager, marking the largest student housing portfolio sale completed in 2026. The portfolio includes 7,578 beds across 10 states and 12 universities, including Arizona State University, Auburn University, and the University of Florida, and was assembled over the past decade across five HSAM fund vehicles. Christopher Merrill, co-founder and global CEO of Harrison Street Asset Management, said the deal highlights continued institutional demand for student housing because of strong fundamentals, limited new supply, and healthy enrollment trends, while Ben Mohns, global head of asset management for real estate at HSAM, said the sale reflects years of disciplined acquisition, development, and operational improvement across top university markets.

FINANCING: Walker & Dunlop arranges $71.5 million acquisition loan. Walker & Dunlop has arranged $71.5 million in acquisition financing for Current Midtown Apartments, a 637-bed student housing community near the College of William and Mary in Williamsburg. Greg Krafcik led the Walker & Dunlop team on the financing, which was provided by Freddie Mac on behalf of North Beacon Capital. The property includes 245 units in one-, two-, three-, and four-bedroom layouts with bed-to-bath parity. The transaction was appraised by Apprise, Walker & Dunlop’s independent third-party appraisal platform.

DEVELOPMENT: New graduate housing community near UMD opens leasing. Discovery House, a new 465-unit apartment building for University of Maryland graduate students, is now leasing ahead of its Aug. 12 move-in date and can house up to 741 students. Jeremy Steed of Capstone On-Campus Management said about 200 prospective tenants had already booked apartments by the soft opening, while Greg Reaves of Mosaic Development Partners said the project was developed in response to strong demand for upgraded graduate housing with more privacy.

MARKET: Whitman Peterson expands stake in Cardinal Group. Whitman Peterson has expanded its strategic partnership with Cardinal Group by increasing its ownership stake and becoming the largest outside investor in the Denver-based firm. Despite the larger investment, Cardinal Group’s founders and executive team will continue to lead the company and retain substantial ownership. Alex O’Brien, CEO of Cardinal Group, said the move builds on the platform the company has spent the past 20 years developing, with a continued focus on people, culture, and innovation. Cardinal Group currently has 117,300 beds under management.

READ: National student housing report - April 2026.

STUDENT HOUSING FOR SALE

Click each image for more information:

555 Beds | Built in 2025 | Asking Price: $138,000,000 | NOI - Year 1: $7,314,321 | CFO: 28 May

3,648 Beds | Asking Price: $330,000,000 | Price per Bed: $90,461 | CFO: June 5

80 Beds | 19 Units | NOI: $426,520 | Cap Rate: 6.60%

32 Beds | 100% Occupancy | Pro-Forma NOI: $412,613 | Cap Rate: 5.50%

ONE MORE THING

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