Ares Management and Core Spaces launch $400m student-housing partnership

Ares Management and Core Spaces has formed a partnership through funds managed by the Ares Real Estate Group to acquire a portfolio of five purpose-built student-housing assets valued at more than $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 United States. The acquired properties are high-quality student-housing assets totaling approximately 2,700 beds and include attractive amenities for residents, according to those involved in the transaction.

“We’re excited to partner with Core Spaces and add these five newly constructed properties to Ares’ strong and growing U.S. multifamily portfolio, which today includes approximately 25,000 units across over 85 properties. This transaction highlights Ares’ ability to transact across the risk/return spectrum through our well capitalized core, value-added, and opportunisti