Landmark Properties Announces $2 Billion Build-to-Core Venture with ADIA for Student Housing
Posted on 08/25/2022
Athens, GA-based Landmark Properties is a fully-integrated real estate firm specializing in the development, construction, acquisition and management of residential living communities. Landmark Properties formed a new $2 billion build-to-core student housing joint venture with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The programmatic joint venture will focus on developing and operating student housing properties in targeted markets throughout the United States and has pre-identified multiple potential development opportunities.
The new build-to-core joint venture follows the $1 billion value-add student housing platform formed by Landmark and ADIA announced in March 2022 and represents an additional commitment to an already long-standing relationship between the two organizations. ADIA closed a US$ 500 million equity check back then. Before ADIA, they had pursued a deal by deal approach for value-add U.S. acquisitions.
This new platform furthers a long-standing relationship between Landmark and ADIA. Not including a pipeline of potential development opportunities, the existing joint ventures between Landmark and ADIA comprise assets with 17,400 beds in Tier 1 university markets throughout the United States.
