Berkshire Global Advisors acted as financial advisor to Core Spaces
Seller Details:
Founded in 2010, Core is a vertically integrated company, focused on acquiring, developing, and managing residential communities that feature world-class amenities, progressive design, and hospitality-driven client service. The Core ecosystem includes student housing, build-to-rent (“BTR”) single family homes and credit. In its award-winning student portfolio, Core currently owns and/or manages over 23,600 beds – and has a pipeline of over 35,500 beds.
Buyer Details:
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives. With over $144 billion in assets under management (as of March 31, 2023), Blue Owl invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional and individual investors differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation. Blue Owl’s GP Strategic Capital platform provides innovative, long-term minority equity and financing solutions to leading private capital managers.
Transaction Summary:
On July 20, 2023 Core Spaces announced a significant financial partnership with Blue Owl’s GP Strategic Capital platform, a leading capital provider to institutional alternative asset management firms. The long-term partnership will fuel Core’s growth investments in existing and new businesses and will further drive the brand’s innovation and expansion plans.