December 5, 2019
Harrison Street Social Infrastructure Fund formed a partnership with Michigan State University (MSU) to develop the 205,659-square-foot Doug Meijer Medical Innovation Building at MSU’s Grand Rapids Innovation Park.
The investment is structured under a public-private partnership (P3) development model with Harrison Street leading the capital commitments from a joint venture that consists of Murphy Development Group, Walsh Investors and Rockford Construction.
“Harrison Street is committed to identifying creative ways to provide strategic capital through public-private-partnerships, as well as substantial operational resources, that ensure our partners, tenants and communities have access to high-quality facilities to help accomplish their goals,” said Christopher Merrill, co-founder, chairman and CEO of Chicago-based Harrison Street.
Under the P3 arrangement, MSU will retain long-term ownership of the land and make up half of an operating committee. The facility has executed long-term contracts with MSU, Spectrum Health, and BAMF Health. A fall 2021 completion is expected.
For comments, questions or concerns, please contact Paul Bubny