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CHICAGO—The Merchant Banking Division of Goldman Sachs is recapitalizing and developing a portfolio of nine assets owned by student housing developer Core Spaces. The deal, which is valued at more than $600 million, is the start of a longer-term initiative between the two companies in which they plan to accumulate a joint-venture portfolio of housing assets across the US.
“Our partnership with Goldman Sachs allows us to continue to develop and manage what we feel is the best real estate in the educational sector,” says Core Spaces CEO Marc Lifshin in prepared remarks.
Core Spaces has partnered with some of the largest owners of student housing in the US, including American Campus Communities and EdR (now Greystar).
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
