Blackstone Real Estate Income Trust Recapitalizes Some Student Housing Assets of Landmark Properties

Posted on 08/22/2021

Revealed on August 20, 2021, Atlanta, Georgia-based Landmark Properties entered into a US$ 784 million joint-venture partnership with Blackstone Real Estate Income Trust, Inc. (BREIT) to recapitalize eight student housing assets totaling 5,416 beds across the U.S. With this transaction, Landmark’s portfolio includes 79 student housing communities. J. Wesley Rogers (Wes Rogers) is the President of Landmark Properties.

Landmark Properties is a U.S.-based student housing developer and student housing contractor.

TSB Capital Advisors acted as financial advisor to both Landmark Properties and BREIT.

Other Deals
In November 2019, Landmark Properties acquired the 11-parcel land assemblage in Seattle’s University District.

In September 2020, W5 Group LLC invested in a Landmark Properties’ development called The Retreat at Orlando, which serves students attending the University of Central Florida (UCF). In the student housing area, W5 Group targets equity, preferred equity, or mezzanine investments of US$ 20 million or greater in developments and existing assets near universities with strong enrollment and limited competing supply. W5 Group is the single-family office of European real estate investor and entrepreneur Ralph Winter.

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