Harrison Street, Core Spaces launch $1.5b build-to-rent JV

Core Spaces, a residential real estate developer, owner and operator, and Harrison Street have formed a joint venture that will invest as much as $1.5 billion for the development and acquisition of single-family build-to-rent (BTR) communities in major-growth metropolitan areas across the United States.

The newly formed joint venture will build on Harrison Street’s institutional, demographically driven investment platform, strong operational knowledge and deep relationships as well as Core Spaces’ existing build-to-rent platform, which launched in 2020, and the firm’s development, and asset management experience. The partnership will pursue investments in highly amenitized, purpose-built communities located in high-growth suburban markets backed by strong demand drivers, such as top-tier school districts. The joint venture’s BTR pipeline now represents about $2.5 billion in total capital and more than 6,500 units in markets such as Austin, Denver, Dallas, Orlando, and