Landmark Announces $1B Platform for Student Housing Acquisitions

Student housing developer Landmark Properties is making moves to expand its already extensive portfolio.

It announced the formation of a joint venture with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) 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 United States.

This new platform furthers a long-standing relationship between Landmark and ADIA. Existing joint ventures between Landmark and ADIA comprise assets with nearly 15,000 beds in tier 1 university markets throughout the country.

“This new joint venture offers the opportunity to continue to grow our exposure to student housing in the US, a sub-sector that continues to display compelling fundamentals,” Salem Al Darmaki, deputy director of the real estate & infrastructure department at ADIA said in prepared remarks. 

With more than $8.3 billion assets under management, Landmark’s portfolio includes nearly 90 residential communities across the country with approximately 55,000 beds under management. Landmark also has an active development pipeline with 16 student and multifamily projects under construction with an estimated value at $3.1 billion.

Hodes Weill Securities, LLC acted as financial advisor on behalf of Landmark Properties.