ATHENS, Ga., Aug. 24, 2022 /PRNewswire/ — Landmark Properties (Landmark), a fully-integrated actual property agency specializing within the improvement, building, acquisition and administration of high-quality residential residing communities, has fashioned a brand new $2 billion build-to-core scholar housing three way partnership with an entirely owned subsidiary of the Abu Dhabi Funding Authority (ADIA). The programmatic three way partnership will give attention to growing and working scholar housing properties in focused markets all through the US and has pre-identified a number of potential improvement alternatives.
The brand new build-to-core three way partnership follows the $1 billion value-add scholar housing platform fashioned by Landmark and ADIA introduced in March 2022 and represents an extra dedication to an already long-standing relationship between the 2 organizations.
Landmark’s distinctive vertical integration of possession, improvement, normal contracting, property administration and funding administration permits for improvement tasks to be seamlessly deliberate and executed, creating worth for the properties, residents, and traders. “Our vertically built-in platform has by no means been extra of a aggressive benefit than it’s at present,” stated Wes Rogers, President and CEO of Landmark Properties. “The power to precisely estimate and higher management prices with our in-house normal contractor is extremely priceless on this inflationary surroundings with provide chain disruptions. Our workforce has delivered billions value of scholar housing properties on time and below price range throughout Covid.”
This new platform furthers a long-standing relationship between Landmark, the nation’s most lively scholar housing developer, and ADIA. Not together with a sturdy pipeline of potential improvement alternatives, the prevailing joint ventures between Landmark and ADIA comprise belongings with 17,400 beds in Tier 1 college markets all through the nation.
“We stay disciplined in our technique of rising the best high quality scholar housing portfolio within the nation,” stated Rogers. “Pupil housing continues to display, in all market cycles, a resilient asset class with sturdy fundamentals, and we proceed to see compelling alternatives for improvement all through the U.S. This newest three way partnership affords the chance to increase our relationship with ADIA, one of many world’s main institutional actual property traders.”
Throughout Landmark’s complete portfolio, Landmark’s communities stay a best choice for faculty college students, and the corporate has posted a formidable hire progress price of seven.5% YoY whereas establishing a powerful preleased occupancy of 98.6% for the 2022/2023 tutorial 12 months. With almost $10 billion belongings below administration, Landmark’s portfolio consists of nearly 100 residential communities throughout the nation with roughly 58,000 beds. Landmark at present has 21 scholar and multifamily tasks below building with an estimated worth at $3.7 billion, and a major and rising improvement pipeline.
About Landmark Properties
Headquartered in Athens, Ga., with an workplace in Atlanta, Landmark Properties is a completely built-in actual property agency, specializing within the acquisition, improvement and administration of high-quality residential communities. With greater than $10 billion belongings below administration, Landmark’s portfolio consists of nearly 100 residential communities throughout the nation with roughly 58,000 beds below administration. Moreover, Landmark advantages from an lively improvement pipeline with 21 scholar and multifamily tasks below building with an estimated worth at $3.7 billion. Landmark’s mission is to be the chief in improvement, building, operations and funding administration of luxurious housing communities, by delivering unequalled service and expertise to residents, companions and staff. For extra data, go to www.landmarkproperties.com.
Established in 1976, the Abu Dhabi Funding Authority is a globally-diversified funding establishment that prudently invests funds on behalf of the Authorities of Abu Dhabi by a method centered on long-term worth creation.
SOURCE Landmark Properties