Core Spaces Announces Growth in Build-to-Rent With 4,000 New Homes Under Development and in Pipeline

Leading Real Estate Company Expands Oxenfree with Over $1B of Construction in Progress

First Oxenfree Communities to Start Leasing in March 2024 in Nashville, Tennessee and Princeton, Texas

CHICAGO--(BUSINESS WIRE)--Core Spaces (“Core” or the “Company”), the vertically integrated residential real estate developer, owner and operator, announces continued growth of Oxenfree, the company’s premier Build-to-Rent (“BTR”) brand. Today, Core has a portfolio of nearly 4,000 homes under development and in its pipeline across fast-growing markets including Dallas-Fort Worth, Denver, Nashville, Austin, Charlotte and Florida’s Gulf Coast. This includes seven communities and approximately 1,500 homes currently under construction with additional groundbreakings scheduled for spring 2024. The brand’s debut communities, Oxenfree at WeHo in Nashville, Tennessee, and Oxenfree at Princeton in Princeton, Texas are slated to begin leasing in March 2024.

Core brings a unique sensibility to development, design and property management that sets its purpose-built BTR communities apart. Founded on the principles of new (sub)urbanism, Oxenfree communities are centered around walkable neighborhoods, shared spaces and integration with the natural landscape. Spacious single-family homes and townhomes complete with refined interiors, high-end finishes and appliances, smart home technology and private garages offer a sense of elevated comfort. Beautiful green spaces and thoughtfully designed amenities like resort-style pools, communal fieldhouses and fitness centers create a sense of community.

“There’s a movement happening in housing right now, with the lack of supply, constraints on affordability, and consumer preferences changing, we're seeing a shift in how residents want to live,” said Cliff Payne, Chief Investment Officer of BTR at Core Spaces. “Through our unique design-build approach, we’re confident Oxenfree is well-positioned to deliver a new way of living. This is just the beginning for BTR, and we look forward to continued growth in our portfolio and the sector as a whole.”

Core is set to begin leasing at its first two Oxenfree communities this March, with homes delivering by April 2024. Oxenfree at Princeton, located outside of Dallas, spans over 50 acres and features a variety of 408 single family detached homes and townhomes with private garages and yards with outdoor patios. Additionally, the community boasts a variety of amenities including a communal 10,000 square foot “fieldhouse,” which includes a state-of-the-art fitness center and yoga room, coworking and event spaces and an additional 7,500 square feet of programmed outdoor amenity spaces including a resort-style pool and spa, grilling stations, fire pits and more. Oxenfree at WeHo, located in Nashville’s booming Wedgewood-Houston neighborhood, is a 96-home community with three- and four-bedroom, multi-level townhomes each with a private garage. The thoughtful community amenities include a resort-style pool and an outdoor entertaining space and amenity lawn.

Additionally, Core has broken ground on five other communities in the last five months. Oxenfree at Rowlett and Oxenfree at West Oak, both located in Dallas, TX are set to mobilize later this year, with first homes slated to be completed in spring 2025. Oxenfree at Stonebriar in Frisco, TX, Oxenfree at Parklin in Charlotte, N.C. and Oxenfree at Clear Creek in Denver, CO will begin to deliver homes in summer 2025.

“Our vision at Core is to have a lifelong place in our residents’ lives. After spending nearly 18 years understanding and perfecting the student housing and conventional resident UX, we saw a huge opportunity to bring our design-focused and hospitality-driven approach to their next phase of life with Oxenfree,” said Marc Lifshin, Co-Founder and CEO at Core Spaces. “We’re as excited as ever about the opportunities in single family rentals and believe the time is now to disrupt the space and introduce a new standard of living with our purpose-built communities.”

Core’s BTR portfolio draws on its established success in student housing. Its award-winning student portfolio consists of over 60 communities and over 37,400 beds across the country, with a pipeline of over 35,000 beds. With a winning track record in ground up development and property management, Core is ready to bring the same level of innovation, design and hospitality to transform single-family, residential living.

For more information on Oxenfree, visit https://www.oxenfree.com.

About Core Spaces:

Core Spaces (Core) is more than a real estate company, it’s a people company. Where building relationships is just as important as building properties. From researchers and architects to designers and operators, Core is made up of risk takers and dreamers who are on a mission to invent the future of living. Everything Core does stems from this culture of collaboration and innovation, and the drive to constantly improve the resident experience. This unique approach has led to creating spaces and services that are redefining the way people live.

Founded in 2010, Core is a vertically integrated company, focused on acquiring, developing, managing, and lending across the student housing and build-to-rent (“BTR”) sectors. Its residential communities feature world-class amenities, progressive design, and hospitality-driven client service. In its award-winning student portfolio, Core currently owns and/or manages over 37,400 beds – and has a pipeline of over 35,000 beds in various stages of development. Core's BTR division currently has approximately 4,000 homes under development and in its pipeline in high growth metros across the country. For more information, visit www.corespaces.com.