Chicago and Oak Brook, Ill. — Core Spaces and Inland Private Capital Corp. (IPC) have formed a joint venture targeting ground-up and substantially complete off-campus student housing opportunities across the U.S.
The partnership marks the beginning phase of Oak Brook, Illinois-based IPC’s strategic plan to expand its student housing footprint, which currently includes 3,800 beds across seven university markets. Chicago-based Core Spaces currently owns or operates 44 student housing communities totaling over 22,000 beds across the country with a pipeline of over 40,000 beds in various stages of development and acquisition.
“We’re excited to bring Core’s experience investing in and developing purpose-built student housing in the U.S. to our partnership with IPC,” says Marc Lifshin, co-founder and CEO of Core Spaces. “Throughout the pandemic, the U.S. student housing sector has shown incredible resilience and robust fundamentals — particularly at leading universities where enrollments are growing. Our pipeline is strong and we’re pumped about the opportunities ahead.”