Inland Private Capital Corporation, a privately held alternative investment management firm, has formed a strategic joint venture partnership with Core Spaces, a residential real estate developer, owner, and operator. The partnership will target ground-up and substantially complete off-campus, purpose-built student housing opportunities at leading universities throughout the United States.
The relationship is the beginning phase of Inland Private’s strategic plan to expand its student housing footprint, which currently includes 3,800 beds across seven campuses. Core Spaces currently owns and/or manages 44 student housing properties nationwide— totaling more than 22,000 beds— and has a pipeline of more than 40,000 beds and units in various stages of development and acquisition.
“The strategic relationship provides our platform institutional access to best-in-class student housing opportunities—an investment category that has historically demonstrated predictable and stable performance, even during times of economic volatility and most recently throughout the COVID-19 pandemic,” said Keith Lampi, president and chief operating officer of Inland Private.
Added Core Spaces co-founder and chief executive officer Marc Lifshin, “Throughout the pandemic, the U.S. student housing sector has shown incredible resilience and robust fundamentals, particularly at leading universities where enrollments are growing.”
Inland Private Capital Corporation is a privately held alternative investment management firm with an investment focus spanning a broad range of asset types. As of December 31, 2021, the firm had sponsored 287 private placement real estate offerings, with investments and developments in the multifamily, self-storage, hospitality, healthcare, student housing, retail, corporate office, senior living, and industrial sectors. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 Exchange.