Core Spaces Launches Global Wealth Management, Appoints Tom and John Dine to Lead the Newly Established Platform

Industry veterans and brothers previously served as Directors at Apollo Global Management

CHICAGO--(BUSINESS WIRE)--Core Spaces (“Core”), the real estate developer, owner and operator, today announced it has hired two industry leaders, Tom and John Dine, to lead the company’s newly established Global Wealth Management platform. As Managing Directors of Global Wealth Management, the partners will distribute Core’s previous and successful institutional strategies to high-net-worth individuals to fuel the growth of Core’s student housing portfolio.

Since its founding in 2010, Core has disrupted the student housing sector by marrying high-design and hospitality-first residential experience at Tier 1 universities across the United States. Building from the success of Core’s existing business, the Global Wealth Management division will provide financial intermediaries with access to institutional investments that were previously unavailable to high-net-worth individuals. As the student housing asset class continues to mature, this Global Wealth Management platform will help diversify the Company’s capital, while providing valuable returns to investors. Together, Tom and John will hire and develop a team of industry professionals to further advance the platform.

“The fundamentals in student housing remain strong and it’s proven to be an increasingly attractive asset class for private wealth. We saw an opportunity for individual investors to join us in greater scale as we continue to execute the same investment strategies that have historically proven successful,” said John Wieker, Chief Investment Officer at Core Spaces. “There is no better time to launch this platform and we’re thrilled to have Tom and John onboard to lead this new endeavor. Their relationship-first approach sets them apart and will enable them to successfully build this platform to further propel our growth forward.”

Tom and John Dine collectively bring over 40 years of experience in alternative investment strategies, with a focus on real estate, private credit and private equity. In addition to their extensive experience within the private wealth space, the brothers also bring a valuable partnership dynamic to Core having worked alongside each other for the bulk of their careers.

Tom began his career as a financial advisor at UBS, and John cut his teeth as a senior trader in Chicago. The two reunited at W.P. Carey Inc., where they served as Vice Presidents responsible for increasing assets under management. The brothers then took their talents to Griffin Capital as Senior Vice Presidents where they continued their efforts in raising capital in the RIA, wire house and independent broker/dealer channels. After successful tenures at Griffin Capital, the two joined Apollo Management Inc. as Directors responsible for increasing assets under management through all financial intermediaries prior to joining Core.

“Core’s unique investment strategy has a proven track record of delivering outsized returns to its long-time institutional investors and, with this new platform, we are bringing the same opportunity directly to the high-net-worth market to share in the financial success of this growing asset class,” said John. “Student housing is unique, and Core’s approach is unmatched. This isn’t something many financial advisors have historically had access to, which puts us in a strong position to build something valuable together, alongside our clients.”

Tom added, "We firmly believe this is the future of funding, and we are excited about the opportunity to be some of the first to get this off the ground. But what really attracted us to Core, first and foremost, was the incredible company culture. The entire team is dedicated to nurturing innovation, which we agree is the foundation for success. As we look to grow this platform and build a diverse and talented team, we hope to reinforce this brand ethos across our own business vertical as well.”

Since 2010, Core has focused exclusively on acquiring, developing, managing and lending across the student housing and build-to-rent (“BTR”) sectors. The Company’s student housing portfolio currently includes more than 37,400 beds owned/managed, with a strong pipeline of over 35,000 beds in various stages of development.

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.