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Landmark Properties Recapitalizes Flagship Student Housing
Landmark Properties has recapitalized The Mark Athens, a 1,364-bed, mixed-use property featuring student apartments as well as retail and office space. Located at 130 Hickory St. in Athens, GA, The Mark Athens serves students attending the University of Georgia.
Terms of the financing were not disclosed. The recapitalization of The Mark contributed to the approximately $700 million in year-end closings across a series of transactions closed by Landmark in the month of December 2023.
“The continued resilience of the student housing sector has attracted a variety of institutional investors and this successful recapitalization underscores the market’s confidence in the sector,” said Wes Rogers, CEO of Landmark Properties. “The Mark Athens is our flagship property. Our corporate headquarters is in this building. It’s the premier asset in our hometown, and we’re glad to have a longer term capital structure in place for this building.”
Landmark developed the property in two phases with the first phase, completed in 2017, offering 928 beds, and a second phase, completed in 2022, offering 436 beds.
- ◦Financing
