Core Spaces Closes $1.64 Billion Flagship Fund, Underscoring Strong Investor Confidence in Student Housing

As capital remains cautious across real estate, Core exceeds internal objectives and completes one of the largest recent pure‑play student housing fundraises

CHICAGO--(BUSINESS WIRE)--Core Spaces (“Core”), a vertically integrated real estate investment manager, developer and operator, today announced the final close of its latest flagship fund, with approximately $1.64 billion in total capital commitments from global investors. The successful close represents one of the largest dedicated capital raises in the student housing sector, and underscores continued investor conviction in Core’s differentiated platform, disciplined development strategy, and deep pipeline of opportunities across top university markets.

Founded in 2010, Core sought to disrupt the student housing sector with a differentiated approach centered on main‑and‑main locations, inspiring design, and a resident experience shaped by hospitality. The firm has established itself as a leading developer and operator of student housing, delivering communities that raise the bar across Tier 1 university markets nationwide. Core believes its vertically integrated model allows the firm to execute selectively, manage risk across the full lifecycle, and continuously evolve its product offerings in step with changing resident preferences.

“This is a big moment for us, but it reflects how we’ve always thought. From the start, we saw something others didn’t and pioneered urban infill student housing by placing our communities where students actually live, not miles away,” said Marc Lifshin, Co-Founder and Chief Executive Officer of Core Spaces. “We never set out to just build housing. We set out to create experiences by understanding how people want to live and obsessing over every detail to bring that to life. We’ve never followed the playbook. We’ve rewritten it through design that resonates, operations that feel like hospitality, and a team that shows up every day with a rookie mindset. As we scale, that mindset only sharpens, and we’re just getting started on inventing the future of living.”

With 74,440 student housing beds owned and under management and a student housing development pipeline of approximately 53,860 beds, Core remains focused on disciplined growth, leveraging its integrated operating model to deliver high‑quality execution, differentiated resident experiences and long‑term value for its partners.

“This successful close reflects a shared conviction in our strategy and the long‑term fundamentals of student housing,” said John Wieker, Chief Investment Officer at Core Spaces. “We value the collaborative partnerships we’ve built with our investors and look forward to continuing to grow together as we seek to execute on our pipeline and advance the next phase of Core’s development and operating platform.”

The fund builds on Core’s broader capital and platform expansion over recent years. In 2024, the firm launched its Global Wealth Management platform, extending access to Core’s institutional investment strategies and broadening its capital base to support future growth.

About Core Spaces

Core Spaces (Core) is more than a real estate company; it’s a people company. 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 on a mission to invent the future of living. Everything Core does stems from a culture of collaboration and innovation, with a drive to constantly improve the resident experience.

Founded in 2010, Core is a vertically integrated real estate investment manager focused on acquiring, developing and managing across the student housing and build-to-rent (“BTR”) sectors. Its residential communities feature world-class amenities, progressive design, and hospitality-driven service. Core’s student housing portfolio includes over 74,440 beds currently owned or managed, with a pipeline of 53,860 beds in various stages of development. Core’s BTR division has over 3,000 homes under development, now leasing or in its pipeline in high-growth metros nationwide. For more information, visit www.corespaces.com.