Core Spaces and TPG Angelo Gordon announced the closing out on a 16-storey, 202-unit and 639-bedroom purpose-built student accommodation (PBSA) project near the University of Michigan. TSB Capital Advisors acted as financial advisor to Core Spaces and TPG Angelo Gordon.
Located along E. William Street, the project is conveniently situated just two blocks from campus and Ann Arbor’s main downtown retail corridor.
The new development will feature a total of 639-beds in a mix of studio through to six-bedroom floor plans. It will have townhomes on the ground level and upgraded VIP units on the top floor.
“Ann Arbor is one of the top college markets in the country, and as the University of Michigan’s enrollment has continued to grow year-over-year, we’re thrilled to have identified this prime location near campus to bring our next-level living experience to students.
“This also marks our first partnership with TPG Angelo Gordon, a leading real estate investment firm that shares our vision for investing in top-tier university markets. Together, we look forward to welcoming U of M students to our community in 2026.”
Brendan Miller, Chief Investment Officer of Student Housing at Core Spaces.
In keeping with Core Spaces approach to creating next-level residential experiences, the property will offer high-design interiors, refined finishes, and a top-of-market amenity package. This includes a resort-style rooftop pool deck, courtyard with grilling stations, spa and fitness centre, and social and study areas.
Construction began in January 2024, with PC Treehouse serving as general contractor and architecture led by Dwell Design Studio. Parini Design is providing interior design services in collaboration with the Core Spaces in-house team.
The project is slated to be completed in May 2026 ahead of the 2026-27 school year.
“We’ve been working with Core Spaces and TPG Angelo Gordon for many years, so we’re excited to be involved in the first joint venture between these two exceptional firms.
“New development JVs don’t come easily these days, but the quality of the sponsorship, the project, and the Ann Arbor market coalesced in a partnership that we believe will be successful on this and many future collaborations to come.”
Ian Bradley of TSB Capital Advisors
Recently Core Spaces and investment management firm Harrison Street announced the acquisition of Rive Eugene. The development is a 209-unit, 686-bed PBSA in Eugene, Oregon. Originally named Identity Eugene, the developer has rebranded the building to The Rive Eugene.
The Rive Eugene development contains a mix of bedrooms ranging from studios to five-beds. Amenities include a resort-style rooftop pool and hot tub, fitness centre, roof deck with fire pits and BBQ facilities, clubroom with games and private workspaces. The Rive Eugene scheme is also within walkable distance to the city’s best restaurants, shops and entertainment destinations.
