Newmark Arranges Refinancing for Core Spaces and Harrison Street's 408-Home Build-to-Rent Community in Princeton, Texas

Newmark has arranged refinancing for Oxenfree Princeton, a 408-home purpose-built rental community in Princeton, Texas, on behalf of a joint venture between Core Spaces and Harrison Street. GID provided the financing for the newly delivered build-to-rent development, the firms announced July 10, 2026.

The Newmark team that secured the financing included Co-President of Global Debt & Structured Finance Jonathan Firestone, Vice Chairmen Blake Thompson and Clint Frease, and Managing Directors Stephen Bailey and Josh Francis.

Property Overview: Oxenfree Princeton

Located along the U.S. 380 corridor in North Dallas, Oxenfree Princeton was completed in late 2025 and offers a mix of townhomes and detached single-family homes. The community's 408 homes feature open-concept layouts, elevated finishes, private outdoor space and attached garages. The loan amount and unit-level financial details were not disclosed.

At the center of the community is The Fieldhouse, an amenity hub that includes a resort-style pool, fitness center, sports court and coworking spaces. The property provides access to major employment centers in McKinney, Allen and Plano.

Sponsors: Core Spaces and Harrison Street

The joint venture combines two institutional real estate platforms. Core Spaces is a vertically integrated real estate investment manager focused on student housing and build-to-rent communities. The firm's student housing portfolio includes more than 74,440 beds currently owned or managed, with a pipeline of 53,860 beds in various stages of development. Its BTR division has more than 3,000 homes under development, now leasing or in its pipeline across high-growth metros nationwide.

Harrison Street is a global alternative investment manager with more than $109 billion in assets under management. The firm brings institutional scale and a diversified real asset platform to the partnership, which the sponsors say is focused on capitalizing on demand for high-quality rental housing in growth markets such as North Texas.

GID Provides Financing; Newmark Leads Capital Markets Effort

GID served as the lender on the transaction. The loan amount and terms were not disclosed.

"Oxenfree Princeton represents a compelling combination of institutional-quality construction, strong sponsorship and exceptional location within a high-growth submarket," said Firestone. "We are pleased to have secured a financing solution with GID that supports the long-term vision for this asset and reflects continued lender confidence in the build-to-rent and single-family rental sectors."

Newmark's Global Debt & Structured Finance group led the assignment. Newmark generated revenues of more than $3.4 billion for the twelve months ended March 31, 2026, and operates from more than 185 offices with over 9,600 professionals across four continents.

Market Context: BTR Demand in North Dallas

Princeton sits in Collin County, which has experienced significant population growth driven by corporate expansions and growth in professional and technology services. The U.S. 380 corridor has seen increased build-to-rent development activity serving households with access to established employment centers to the west.

About the Firms

Core Spaces, founded in 2010, is a vertically integrated real estate investment manager focused on acquiring, developing and managing student housing and build-to-rent communities. Harrison Street is a leading global alternative investment manager with more than $109 billion in assets under management. Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm operating from more than 185 offices globally. GID provided the financing for the transaction.