Ares Management Corporation Targets Student Housing in Deal with Core Spaces
Posted on 11/04/2021
Ares Management Corporation formed a partnership with Core Spaces, a real estate company and student housing developer, owner, and operator. The partnership is being funded by funds managed by the Ares Real Estate Group to acquire a portfolio of five purpose-built student housing assets valued at over US$ 400 million. This represents the initial transaction for the partnership that will seek to grow an attractive student housing portfolio targeting premier college and university markets across the U.S. The acquired properties are high quality student housing assets totaling approximately 2,700 beds and include attractive amenities for residents.
Founded in 2010, Core Spaces is a vertically integrated company focused on acquiring, developing, and managing residential properties.
Advisors
TSB Capital Advisors acted as Financial Advisor to Ares and Core Spaces.
