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Landmark, ADIA Create $1B Platform to Acquire Value-Add Student Housing
Athens, GA-based Landmark Properties has formed a joint venture with a wholly owned subsidiary of the Abu Dhabi Investment Authority initially targeting $1 billion for investments. The programmatic joint venture will focus on acquiring and operating value-add student housing properties in targeted markets throughout the US.
Hodes Weill Securities, LLC, acted as financial advisor on behalf of Landmark Properties in connection with the formation and capitalization of the value-add student housing acquisition joint venture.
The new platform furthers an existing relationship between Landmark and ADIA. Current joint ventures between the companies comprise assets with nearly 15,000 beds in tier 1 university markets throughout the country.
Landmark’s portfolio includes more than $8.3 billion assets under management nearly 90 residential communities across the country with approximately 55,000 beds under management. The company has a development pipeline with 16 student and multifamily projects under construction with an estimated value at $3.1 billion.
- ◦Financing
