CHICAGO, IL – December 23, 2025 – Core Spaces (“Core”), the vertically integrated real estate developer, operator and investment manager, and Harrison Street Asset Management (“HSAM”), a leading global real assets investment manager with more than $108 billion in assets under management, today announced the recapitalization of ōLiv Boulder, a 146-unit community located adjacent to downtown Boulder and the University of Colorado Boulder (“CU Boulder”). TSB Capital Advisors assisted in debt financing for the recapitalization.
Developed by Core in 2024, ōLiv Boulder offers residents a prime location near downtown Boulder, the CU Boulder campus and Pearl Street. The property features a top-of-market amenity package with a rooftop hot tub and sundeck, fitness center, private study rooms and coworking spaces plus on-site parking and bike storage. ōLiv Boulder offers studio through four-bedroom floorplans and is currently leasing for the 2026-27 academic year. Following the transaction, Core will continue to oversee day-to-day management and operations.
“We’re thrilled to continue our long-standing partnership with Harrison Street Asset Management through this recapitalization,” said Brendan Miller, Chief Investment Officer of Student Housing at Core Spaces. “We believe strongly in the Boulder market, its fundamentals, momentum, and the tenant base it attracts. ōLiv Boulder is a standout asset, that we believe is well positioned to serve the Boulder community for years to come.”
The transaction expands the ongoing partnership between Core and HSAM. The firms are continuing their work together in Boulder with the development of Hub Boulder, 96-unit and 404-bed community, anticipated to deliver in summer 2026 and currently leasing for the 2026-27 academic year.
“We are proud to further expand our partnership with Core Spaces,” said Justin Gronlie, Managing Director and Co-Head of Education Transactions – North America at Harrison Street Asset Management. “While Boulder has long been a key target market for us, it has historically lacked the institutional-quality product that meets our specific investment criteria, until now with ōLiv Boulder. We believe that fundamentals at CU Boulder are exceptional, and we are excited to lean into this market with an asset that is positioned to serve the Boulder community for many years to come.”
About Core Spaces
Core Spaces (Core) is more than a real estate company; it’s a people company. Building relationships is just as important as building properties. From researchers and architects to designers and operators, Core is made up of risk-takers and dreamers on a mission to invent the future of living. Everything Core does stems from a culture of collaboration and innovation, with a drive to constantly improve the resident experience.
Founded in 2010, Core is a vertically integrated real estate investment manager focused on acquiring, developing and managing across the student housing and build-to-rent (“BTR”) sectors. Its residential communities feature world-class amenities, progressive design, and hospitality-driven service. Core’s student housing portfolio includes over 59,000 beds currently owned or managed, with a pipeline of over 50,930 beds in various stages of development. Core’s BTR division has over 3,000 homes under development, now leasing or in its pipeline in high-growth metros nationwide. For more information, visit www.corespaces.com.
About Harrison Street Asset Management
Harrison Street Asset Management is a leading global alternative investment management firm with over $108 billion in assets under management through highly differentiated assets across real estate, infrastructure, and credit strategies. Headquartered in Chicago, Toronto and London with over 600 employees in offices across North America, Europe, Asia and the Middle East, the firm offers innovative solutions across a variety of closed-end, open-end and specialized vehicles on behalf of 1,200+ institutional and over 300+ Registered Investment Advisors.1
Over the last 20 years, Harrison Street has led with expertise and innovation in the student housing sector and is now one of the largest private owners of student housing globally. The firm has invested over $24.1 billion across 421 properties, totaling more than 230,000 beds within the student housing sector throughout North America and Europe.
1 HSAM data and descriptions of HSAM’s business are generally comprised of the aggregated data and business activities of investment advisors that are owned in whole or in part by HSAM. Assets under management (“AUM”) reflects the AUM for the investment advisory and asset management clients of such investment advisors and is inclusive of the regulatory AUM of such investment advisors that is reported in their respective Form ADVs.
Core Spaces Media Contact:
Kim Lyons, Director of Communications
708-927-0951 | Klyons@corespaces.com
HSAM Media Contacts:
Doug Allen/Ellie Johnson
Dukas Linden Public Relations
646-722-6530 | HSAM@dlpr.com
