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Core Spaces Acquires Two Student Housing Communities in Alabama, Illinois

by Katie Sloan

Auburn, Ala. and Champaign, Ill. — Core Spaces has acquired two student housing communities in Alabama and Illinois. Acquisitions include The Union at Auburn, a 501-bed property located near the Auburn University campus in Alabama; and 212 East located near the University of Illinois campus in Champaign. Newmark brokered the acquisition of The Union at Auburn from WFI for an undisclosed price. Shared amenities at the community include a state-of-the-art clubhouse; two-story fitness center with a Barre, Yoga and TRX studio and on-demand fitness classes; cyber café and business center; rideshare …

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Mary Cook Associates, Morgan Li Launch Furniture Solution for Student Housing Developments

by Katie Sloan

Chicago — Commercial interiors firm Mary Cook Associates (MCA) and furniture manufacturer Morgan Li have launched ‘Built to Spec,’ a furniture solution for student housing developments. The collaboration brings together MCA’s expertise in student housing interiors with Morgan Li’s large-scale production capability to deliver in-unit furnishings that are designed for how today’s students live, sleep, study, work and play. ‘Built to Spec’ includes furniture for living rooms, kitchens and bedrooms with the option of personalization, allowing developers to further display their brand identity within their project’s interiors. The partnership will debut …

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IllinoisInvestment SalesNews

Horizon Realty Advisors Acquires 524-Bed Community Near University of Illinois Urbana-Champaign

by Katie Sloan

Urbana, Ill. — Horizon Realty Advisors has acquired Campus Circle, a 524-bed student housing community located near the University of Illinois Urbana-Champaign campus in Urbana. Scott Clifton, Kevin Kazlow and Jack Goldberger of JLL represented the seller, an affiliate of Blue Vista Capital Management, in the disposition. Jake Wisness, Dan Kearns, Mike Brady, Sam Tarter and Bill Maloney, also of JLL, secured financing for the transaction on behalf of the buyer. Freddie Mac provided the five-year, fixed-rate loan, which will be serviced by JLL Real Estate Capital. Located at 1010 W. University …

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Blue Vista, Clarion Partners Acquire 2,787-Bed Student Housing Portfolio

by Katie Sloan

Chicago and New York City — A joint venture between Chicago-based Blue Vista Capital Management and New York City-based Clarion Partners has acquired a four-property student housing portfolio totaling 2,787 beds. Columbus Pacific Group sold the properties for an undisclosed price. The acquisition included two adjacent student housing communities offering a total of 1,124 beds near the Pennsylvania State University campus in University Park; a 309-bed community serving students attending the College of Charleston in South Carolina; and a 1,354-bed property located near the Texas A&M University campus in College Station. …

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Gilbane, CBRE Investment Management Acquire 3,000-Bed Student Housing Portfolio

by Katie Sloan

Providence, R.I. — A joint venture between Gilbane Development Co. and CBRE Investment Management has acquired a six-property student housing portfolio totaling 3,000 beds across the U.S. The transaction included the recapitalization of three communities and three “shovel-ready” development projects. The portfolio comprises Bixby on College near Clemson University in South Carolina; undisclosed communities near the University of Illinois and Syracuse University campuses; and three development projects serving students attending the University of Central Florida, University of Florida and University of California, Berkeley. Further details on the transaction, including the identity …

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IllinoisInvestment SalesNews

Harrison Street Sells 8,724-Bed Student Housing Portfolio to Scion Group for $893 Million

by Katie Sloan

Chicago — Investment management firm Harrison Street has sold a student housing portfolio for $893 million. Affiliates of The Scion Group and an institutional investor were the buyers.  Totaling 8,724 student housing beds, the portfolio features 14 properties located at 13 universities. Situated across 11 states, the student housing developments serve universities including the University of Arkansas, Texas A&M and the University of Missouri.  Chicago-based Harrison Street was founded in 2005 and has invested across the seniors housing, student housing, build-to-rent, healthcare, life sciences and self-storage sectors. The company’s current …

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Core Spaces Announces Executive Leadership Promotions, Hires

by Katie Sloan

Chicago — Core Spaces has announced several changes to the Chicago-based firm’s executive leadership team. Sean Devine has been hired to the role of executive vice president of property operations and experience. Devine will lead the company’s operational teams across its student housing and build-to-rent arms. He previously oversaw 70,000 beds as vice president of student housing operations at Cardinal Group.  Jennifer Holmes has transitioned to the role of chief operating officer. She most recently served as the firm’s chief financial officer. In her new role, Holmes will oversee multiple departments …

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Core Spaces Hires Matthew Claeys to Lead Institutional Capital Raising

by Katie Sloan

Chicago — Core Spaces has hired Matthew Claeys to the role of managing director and head of institutional capital raising. In this role, Claeys will focus on identifying and aligning with institutional investors across the Chicago-based firm’s student housing and build-to-rent verticals, expanding the company’s capital partnerships and enhancing its investment platform. Claeys brings over two decades of real estate investment experience to the position, most recently serving as executive vice president of Heitman’s client services and marketing group. 

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Core Spaces Delivers Six Student Housing Developments Totaling 4,549 Beds 

by Katie Sloan

Chicago — Core Spaces has completed six student housing communities totaling 4,549 beds across the United States. All six communities have opened to residents ahead of the 2024-2025 school year. The communities are all located near the campuses of major universities, including UC Berkeley, University of Cincinnati, Penn State, University of Wisconsin-Madison and Clemson University. The six new properties include: The communities feature a variety of high-end, student-focused amenities. For example, ōLiv Madison boasts a spa, sauna, fitness center, coworking spaces, private study rooms and a sprawling rooftop sundeck with pool …

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Core Spaces Grows Global Wealth Management Platform with New Hires

by Katie Sloan

Chicago — Core Spaces has hired several industry leaders to develop the Chicago-based firm’s newly established global wealth management platform. Working alongside directors Tom Dine and John Dine, the newly appointed team includes Michael Hughes, managing director, intermediary; Angie Fisher, director of funds management operations; and Chris Best, Nick Baseel and Daniel Sexton as directors of capital formation.  “Each of these new team members are extremely well respected in the industry and bring with them a wealth of experience that will add value to our growing wealth platform,” says Tom Dine, …

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