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Core Spaces, Harrison Street Launch $1.5B Build-to-Rent JV
Chicago-based Core Spaces and Harrison Street have formed a joint venture that will invest up to $1.5 billion to develop and acquire single-family build-to-rent (BTR) communities in major growth metropolitan areas across the U.S.
The partnership will pursue investments in highly-amenitized, purpose-built communities in high-growth suburban markets backed by strong demand drivers. The JV’s BTR pipeline currently represents approximately $2.5 billion in total capital and more than 6,500 units.
“Affordability challenges in the U.S. housing market and changes in lifestyle preferences are driving demand for single family rentals and we believe our progressive design and hospitality-driven approach will differentiate our BTR communities,” said Dan Goldberg, president of Core Spaces.
Added Harrison Street CEO Christopher Merrill, ‘We are excited to draw from our U.S. student housing BTR experience alongside Core Spaces, an experienced developer and operator with significant residential real estate expertise, to identify attractive investment opportunities.”
- ◦Sale/Acquisition
- ◦Development
