Inland Private Capital Corp. and Core Spaces have launched a strategic joint venture targeting purpose-built student housing at top-tier universities across the US.

The venture will target ground-up and substantially complete off campus purpose-built student housing opportunities, the companies said in a statement. It will also mark the beginning of IPC's strategic plan to expand its student housing footprint, which currently stands at 3,800 beds across seven campuses. Core Spaces currently owns and/or manages 44 student housing properties nationwide with a total of more than 22,000 beds, with an additional 40,000 beds and units in the pipeline.

"We are thrilled to partner with Core Spaces, a proven leader and innovator in the student housing industry," said Keith Lampi, president and chief operating officer of IPC. "The strategic relationship provides our platform institutional access to best-in-class student housing opportunities – an investment category that has historically demonstrated predictable and stable performance, even during times of economic volatility and most recently throughout the COVID-19 pandemic."