LUBBOCK, TX-A partnership between Landmark Properties and Harrison Street Real Estate Capital LLC plans to develop a $42-million student housing project near Texas Tech University.

The 218-unit project, dubbed The Retreat Lubbock, is scheduled to deliver 853 beds by fall 2011. It is the third of its kind between Landmark Properties, an Athens, GA-based student housing developer, and Harrison Street Real Estate Capital, a Chicago-based private equity firm that invests heavily in the student housing sector.

The two firms established a $200 million joint venture more than a year ago, according to Brian Thompson, vice president of Harrison Street Real Estate Capital. “This is a long-term partnership, and our intent is to grow the business and roll out the Retreat cottage concept across the country,” he tells GlobeSt. “Prior to the Lubbock project, the cottages were a regional concept. Now we’re moving West.”