Radnor Property Group, a leading real estate development firm specializing in public-private partnerships, and Harrison Street, a leading investment management firm focused on alternative real assets, were honored by the Student Housing Business Innovator Awards with Best On-Campus P3 Development for their multi-phased partnership with Duquesne University.
AUSTIN, Texas, April 25, 2025 /PRNewswire-PRWeb/ -- Radnor Property Group, a leading real estate development firm specializing in public-private partnerships, and Harrison Street, a leading investment management firm focused on alternative real assets, were honored by the Student Housing Business Innovator Awards with Best On-Campus P3 Development for their multi-phased partnership with Duquesne University.
The On-Campus P3 Innovator Award recognizes the best public-private partnership development containing student housing that solved a unique need for a University or College, served as a "win-win-win" for the school, its residents, and the developer, enhanced the overall campus fabric, and performed successfully relative to budget and timing.
The honored projects—Brottier Hall, St. Martin Hall, and the newly delivered McGinley Hall—were the result of a strategic, long-term collaboration between Radnor, Harrison Street, and Duquesne University. Spanning seven years and totaling nearly 2,000 beds, the initiative transformed outdated housing into modern accommodations, offering more amenity spaces, fitness areas and outdoor courtyards accessible to residents, Duquesne students and the greater community. The successful completion of the P3 projects also demonstrated the value strategic collaboration can deliver to a university's financial position.
"These P3 housing projects, along with monetizing its energy plant, allowed the University to reposition and strengthen its balance sheet, freeing it to invest and launch a College of Medicine without negatively impacting our above average (A) credit rating," said Matthew Frist, Duquesne University's Senior Vice President of Finance and Business.
To date, the Radnor-Harrison Street-Duquesne University partnership has repositioned 44% of the University's housing stock, de-densified the portfolio by 5% while increasing campus-wide housing revenue by 51%, and contributed to an increase in enrollment since 2022.
"We are immensely proud to be recognized for our work at Duquesne," said Radnor Property Group CEO and Managing Partner, David Yeager. "This success was made possible by our truly collaborative partners in the University, Harrison Street, and our entire team. We are grateful to Student Housing Business and our peers for awarding us this honor."
"This award highlights the impact of collaborative partnerships in delivering lasting value to universities and their students," said Jim Hennessy, Senior Managing Director and Head of P3 Business Development at Harrison Street. "Through a shared vision and complementary expertise, our partnership with Duquesne and Radnor delivered a transformative housing solution that meets the needs of today's students while supporting the University's broader strategic goals."
The awards ceremony took place on April 11, 2025 during the InterFace Student Housing conference in Austin, Texas, hosted by Student Housing Business and France Media.
About Radnor Property Group
Radnor Property Group is a leading privately held real estate company specializing in the development of student housing, multifamily apartments, and mixed-use projects in growing and dynamic communities. Radnor's on campus projects include redevelopment and new construction public-private-partnerships with higher education institutions. Founded in 1999, Radnor has actively developed or advised on assets valued at approximately $3 billion. Radnor is headquartered in suburban Philadelphia with regional offices in Atlanta and Hanover, NH.
To learn more about Radnor, visit www.radnorproperty.com and follow on LinkedIn.
About Harrison Street
Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, build-to-rent, healthcare delivery, life sciences, and storage real estate as well as social, utility and digital infrastructure. Headquartered in Chicago and London, with offices throughout North America, Europe and Asia, the firm has approximately 290 employees and US $55 billion in assets under management on behalf of institutional investors across the globe. Harrison Street was awarded Best Places to Work by Pensions & Investments for ten years (2014-2020, 2022, 2023, 2024) and since 2019 has won 16 awards from PERE, including the 2024 Award: Alternatives Investor of the Year - Global. For more information, please visit www.harrisonst.com.
About Duquesne University
Founded in 1878, Duquesne is consistently ranked among the nation's top Catholic universities for its award-winning faculty and horizon-expanding education. A campus of nearly 8,500 graduate and undergraduate students, Duquesne prepares students by having them work alongside faculty to discover and reach their goals. The University's academic programs, community service, and commitment to equity and opportunity in the Pittsburgh region have earned national acclaim.
Press Contacts:
Amelie Yeager
Doug Allen
Dukas Linden Public Relations
+1 (646) 722-6530
Media Contact
Amelie Yeager, Radnor Property Group, 1 6102475135, [email protected], www.radnorproperty.com
SOURCE Radnor Property Group
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