Core Spaces a vertically integrated residential real estate developer, owner and operator, today announced a significant financial partnership with Blue Owl’s GP Strategic Capital platform, a leading capital provider to institutional alternative asset management firms. The long-term partnership will fuel Core’s growth investments in existing and new businesses and will further drive the brand’s innovation and expansion plans.
Since its founding in 2010, Core has disrupted the student housing sector by marrying high-design and a hospitality-first residential experience at Tier 1 universities across the United States. In 2020, Core launched its Build-to-Rent (“BTR”) division and has built a robust pipeline in fast-growing markets across the country. Fueled by an entrepreneurial spirit and a collaborative culture, Core has established a track record of continued success and remains at the forefront of innovation in the real estate industry.
“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, BTR and beyond,” said Marc Lifshin, Founder and CEO at Core Spaces. “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.”
“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,” said Michael Rees, Co-President and Head of Blue Owl’s GP Strategic Capital platform.
“The operating fundamentals in both student housing and BTR continue to be strong, and we have high conviction in the investment prospects for these sectors,” said John Wieker, Chief Investment Officer at Core Spaces. “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.”
