Athens, Ga. — Landmark Properties has opened eight student housing developments across six states ahead of the fall 2021 semester.
The communities comprise 5,390 beds and are worth $1.2 billion. Properties are located near the University of Georgia in Athens; the University of Texas at Austin; the University of California, Berkeley; the University at Buffalo in New York; the University of Miami in Coral Gables, Florida; Kennesaw State University in Georgia; the University of Central Florida in Orlando; and Penn State University in State College.
“Our research indicates this may be the largest student housing portfolio delivered in terms of beds and valuation at one time in the U.S., and perhaps globally,” says Wes Rogers, president and CEO of the Athens, Georgia-based firm. “These projects were delivered on time and on budget despite challenges presented by the global pandemic, and that is a credit to our team.”
The company, which executed a large recapitalization of several assets with Blackstone in mid-August, also recently acquired a three-property portfolio near the University of Georgia totaling 867 beds in partnership with Silverpeak. The properties — Archer on North, The Redland and Woodsong Village — were built in 1984, 1988 and 2001.
“Each of these properties has been well maintained and we look forward to deploying our management expertise to generate significant efficiency and return in the years ahead,” says Rogers.