Vertically integrated residential real estate developer, owner and operator Core Spaces has recently announced a financial partnership with Blue Owl’s GP Strategic Capital platform, a capital provider to institutional alternative asset management firms.
“Blue Owl is one of the best alternative asset management firms in the game and we’re excited to partner with them as we continue pushing boundaries across student housing, Build to Rent and beyond. We’re always looking for ways to unlock new opportunities that challenge the expected and keep us moving forward. With Blue Owl’s partnership, we have even more room to grow and innovate while still staying true to what we’ve done since day one: inventing the future of living.”Marc Lifshin, Founder and CEO, Core Spaces
Since 2010, Core Spaces has had significant involvement in the student housing sector by combining high-design and a hospitality-first residential experience at Tier 1 universities across the United States.
“The operating fundamentals in both student housing and Build to Rent continue to be strong, and we have high conviction in the investment prospects for these sectors. Blue Owl’s capital bolsters our ability to continue to grow our vertically integrated investment management platform across both sectors, as well as explore other opportunities that will continue to drive Core, and the industry, forward.”John Wieker, Chief Investment Officer, Core Spaces
Currently, Core Space owns and manages over 23,600 PBSA beds – and has a pipeline of over 35,500 beds.
The long-term partnership between the companies will support the company’s growth investments in existing and new businesses.
“We believe Core Spaces is a leader in the vertically integrated real estate space and are thrilled to add this innovative firm to our portfolio.”Michael Rees, Co-President and Head, Blue Owl’s GP Strategic Capital platform.