Landmark Properties Closes $300M Student Housing Fund, Topping $200M Target
Landmark Properties, a real estate investment management firm specializing in the development, acquisition and operation of residential communities, has closed its Landmark Student Housing Sponsor Fund LP, which raised $300 million, exceeding its initial $200 million target.
“This milestone reflects the confidence our partners have in Landmark’s vertically integrated platform and disciplined approach to development,” said Wes Rogers, chairman and chief executive officer of Landmark Properties.
The final close came approximately seven months after the initial closing. The fund drew equity commitments from insurance companies, pension funds, registered investment advisers and family offices.
The fund is designed to co-invest alongside Landmark’s development joint ventures, providing capital flexibility to support early-stage execution and development timelines in the U.S. student housing sector.
“The sponsor fund enhances our competitive position as the most active developer of student housing in the United States, allowing us to act quickly and decisively on compelling opportunities in order to deliver compelling risk-adjusted returns for both our joint venture partners and fund investors,” added Rogers.
Landmark said the fund has already invested in several development projects across what it has identified as Tier 1 markets. Landmark’s development pipeline includes more than 50 student and multifamily projects under construction or near-term start with an estimated value of more than $10 billion.
Headquartered in Athens, Ga., with offices in Atlanta, New York, and London, Landmark Properties is a real estate investment management firm focused on the development, construction, acquisition and operation of residential communities. The company reports more than $15 billion in assets under management and a portfolio of more than 115 residential communities across the United States with 74,000 beds under management.
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