Reviewing through the Oracle error you mention above (ORA-01795), I have seen this type of issue behavior in earlier Jive versions (Jive 5 and 6) when an instance reached more than 1000 spaces. However have not yet seen reports of this behavior in Jive 7 or 8 related to space creation. As such I would recommend opening up a case in your customer group here in the Jive Community so that the next available support engineer can assist with further investigating into your specific instance.
When opening it, if you could please tail your sbs.out and sbs.log files while replicating the behavior and attach them to the case for review, this should assist in the investigation.
Thanks for your response. I will submit a case with more details. In the mean time, can you please let me know the cause or the fixes that you did during similar issue in the earlier versions of Jive? It would be helpful for us to debug more with our existing issue as well.