Core Spaces Closes $1.6B Student Housing Fund
The fund is one of the largest capital raises for the asset class.
Core Spaces has closed its flagship student housing fund, raising $1.6 billion from global investors. The fund closure, one of the largest capital raises in the sector, will continue to support the company’s expansion through new development and acquisitions across the U.S.
Core Spaces’ strategy focuses on Tier 1 university markets and urban infill student housing projects across the U.S.
Currently, company’s developments prioritize communities near universities that focus on student engagement and operations, Marc Lifshin, co-founder & CEO of Core Spaces, said in prepared remarks.
Since its founding in 2010, Core Spaces has expanded its portfolio to include more than 74,000 beds.
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In 2024, the company launched its Global Wealth Management arm to extend access to its institutional investment vehicles and broaden its capital base.
A targeted approach to expansion
Core Spaces’ recent development and acquisition activity has focused on growing its presence in well-performing student housing markets. According to a Yardi Matrix student housing report, preleasing at Yardi 200 universities reached 65.5 percent, 340 basis points ahead of the estimate for March 2025.
Virginia Tech led the listed universities, with a 95.5 percent preleasing rate. Other universities included the University of Missouri, with a preleasing rate of 88.4 percent and Clemson University at 85.2 percent. All three were above the Yardi 200 average.
Core Spaces entered the Missouri student housing market with its March acquisition of The Collective at Columbia, a 972-bed community serving students at the University of Missouri in Columbia, Mo. The Preiss Co. sold the asset after two years of ownership.
Last July, Core broke ground on Hub Clemson, a 1,303-bed project for students attending Clemson University. Kayne Anderson Real Estate is the joint venture partner on the project, which is set to deliver in June of next year. Hub Clemson will be Core’s third student housing development near the school.
