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Student Housing Daily - May 13 - Core Spaces acquires 501 beds

Student Housing Daily - May 13 - Core Spaces acquires 501 beds

Inland closes $18.3 million loan. LV Collective breaks ground on 583 units. Campus Apartments announces key promotions. Student housing statistics. Four new student housing deals.

Aid Sopjani & Matt H
May 13, 2025

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NEWS ROUNDUP

ACQUISITION: Core Spaces acquires 501 beds. Core Spaces has acquired The Union at Auburn, a 140-unit, 501-bed student housing community located steps from Auburn University. Positioned in one of the Southeast’s most competitive student housing markets, the property offers premier amenities and reinforces Core’s strategic focus on high-demand university locations. The transaction was facilitated in partnership with William Fideli, WFI, and Newmark Student Housing.

FINANCING: Inland Mortgage Capital closes $18.3 million bridge loan. Inland Mortgage Capital has originated an $18.3 million non-recourse bridge loan for The Grand at Riverside, a 192-unit multifamily property in Evans, Colorado. The property, located near downtown Greeley and the University of Northern Colorado, currently operates as student housing. Borrower Asset Living will use the funds for extensive renovations, including upgraded unit interiors and revamped amenities such as a new clubhouse, resort-style pool, pickleball court, fitness center, and pet facilities. Inland President Art Rendak noted the loan closed in under 40 days, citing Asset Living’s experience in student housing redevelopments and the project’s strong potential in the growing Greeley market.

DEVELOPMENT: LV Collective breaks ground on 583 units. LV Collective has officially broken ground on Rambler Riverfront, a two-building luxury student housing development in West Lafayette, Indiana. The 799,289-SF project will deliver 583 units and ground-floor retail space near Purdue University. Completion is scheduled for fall 2027.

PEOPLE MOVES: Campus Apartments announces key leadership promotions. Campus Apartments has promoted three senior leaders to bolster its investment, operations, and asset management teams. Andrew Roth has been named SVP of Investments after helping lead over $800 million in acquisitions and developments totaling more than 8,500 student beds. Scott Caliguire becomes Associate VP of Asset Management, having driven portfolio performance and led cross-functional initiatives over the past five years. Cara Castelli, a 16-year veteran, transitions to VP of Operations after overseeing a 22,000-bed portfolio that maintained over 97% occupancy for two years. President and CIO Daniel Bernstein praised the trio’s leadership as Campus Apartments continues to expand its $2 billion, 23,000-bed portfolio.

READ: Student housing statistics.

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