Vertically integrated residential real estate developer, owner and operator Core Spaces announces a financial partnership with capital provider Blue Owl’s GP Strategic Capital platform.
“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
In 2020, Core Spaces launched its Build to Rent division with a pipeline of over 8,000 homes in high growth metros and has built a robust pipeline in fast-growing markets across the country.
“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
With over $144bn in assets under management, Blue Owl invest across three multi-strategy platforms: Credit, GP Strategic Capital and Real Estate.
“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
The long-term partnership will fuel the company’s growth investments in existing and new businesses and will further drive the brand’s innovation and expansion plans.