Landmark Properties announced the commencement of construction for their newest off-campus community near St. Louis University in St. Louis, Missouri. The Standard at St. Louis will be adjacent to campus and feature 465 beds in a range of 1-5 bedroom floor plans. All unit types will be equipped with luxury finishes such as granite counters, stainless appliances, hardwood-style floors and high-end features not often found in traditional student housing near St. Louis University. Additionally, each unit will have a balcony and private bathrooms for each bedroom. Students living in The Standard at St. Louis will enjoy an unparalleled amenity package that includes a resort-style swimming pool, extensive fitness facilities, and a study lounge with private and group study rooms.
“We are excited to partner with Harrison Street in bringing our unique urban infill product to the students of St. Louis University,” said Wes Rogers, President and CEO of Landmark. “In addition to being located across the street from campus, the Standard will have unit types, features, and amenities not commonly found in the market.”
The Standard at St. Louis brings the total number of beds currently under construction by Landmark to roughly 3,500, with an additional 2,200 beds scheduled to commence construction in the next 120 days. The project is another joint venture with Harrison Street Real Estate Capital. Sangita, a local real estate firm, will also participate in the development of the property. Compass Bank is providing the construction financing.
ABOUT LANDMARK PROPERTIES, INC.
Based in Athens, GA, Landmark Properties is a fully-integrated real estate firm specializing in the development, investment and management of high-quality student housing communities across the country. Landmark has developed and constructed nearly $1 Billion of student housing, and has an additional 9,000 beds in the development pipeline. Landmark continues to focus on developing both “The Retreat” branded cottage-style developments and “The Standard” branded infill developments in college markets nationwide. For more information, visit www.landmarkproperties.com
ABOUT HARRISON STREET REAL ESTATE CAPITAL, LLC
Harrison Street is a real estate private equity firm founded in 2005 that directly and through its affiliates, has approximately $5.5 billion in Assets Under Management (AUM) through commingled funds and public securities products. The commingled funds focus exclusively on the Education, Healthcare and Storage segments of the US real estate market. The firm currently owns approximately $4.5 billion in real estate assets consisting of over 250 properties in 38 states including over 28,000 student housing beds, more than 6,000 senior housing/assisted living units, over 1.4 million square feet of medical office space, and more than 72,000 self storage units. Additionally, Harrison Street Securities LLC currently manages over $900 million in REIT securities through distinct long only product offerings. For more information visit www.harrisonst.com
CONTACT:
Wes Rogers
President & CEO
Landmark Properties
706.543.1910
Wes.Rogers@landmark-properties.com
Landmark will be the developer and, through its affiliate, Collegiate Construction, will also serve as the general contractor for the project. Construction will begin on Western Blvd and 35th Street in Corvallis, Oregon, on this community of 330 one, two, three, four and five bedroom craftsman style cottages and garden apartments. The cottages will feature expansive living rooms, gourmet kitchens with granite countertops and stainless steel appliances, large bedrooms with spacious closets, built-in bookshelves, outdoor decks, and higher-end features not customarily found in conventional student housing.
“It is rare to find a site this large adjacent to a university the size of Oregon State. The proximity to campus, barriers to entry, and product differentiation will make this a truly unique project for years to come,” said Wes Rogers, president and CEO of Landmark. “We’ve been working on this deal for almost three years now, so it’s nice to finally put a shovel in the ground.”
The 1,016-bed cottage community will create a neighborhood lifestyle unique to the OSU student housing market. Retreat residents will enjoy their custom-built cottages, while also taking advantage of an unparalleled amenity package. The community will feature a 13,900+ sq ft clubhouse, which will showcase an exclusive fitness center, fully equipped with separate strength room, cardio rooms and racquetball court. Residents will also get to utilize the many other clubhouse amenities, including pool tables, gaming/study pods, tanning beds, cyber café, sports book-style social lounge, computer lab, and studying nooks as well as take advantage of The Retreat’s indoor bike storage unit.
Landmark’s “Retreat Student Cottage” concept has won numerous prestigious innovator awards in the past years, including Student Housing Business’ Best New Development, Most Creative Financing and Best Architecture.
About Landmark Properties, Inc.
Landmark Properties is a fully-integrated real estate firm specializing in the development, investment and management of high-quality student housing communities across the country. Backed by a deep understanding of the markets, a commitment to quality and a strong track record of success, Landmark Properties is responsible for some of the premier student housing communities in the nation. Based in Athens, Georgia, Landmark, with its affiliate Collegiate Construction, have developed and constructed over $1 Billion of student housing in the past few years. For more information, visit www.landmarkproperties.com.
About Harrison Street Real Estate Capital, LLC
Harrison Street is a real estate private equity firm founded in 2005 that directly and through its affiliates, has approximately $5.5 billion in Assets Under Management (AUM) through commingled funds and public securities products. The commingled funds focus exclusively on the Education, Healthcare and Storage segments of the US real estate market. The firm currently owns approximately $4.5 billion in real estate assets consisting of over 250 properties in 38 states including over 28,000 student housing beds, more than 6,000 senior housing/assisted living units, over 1.4 million square feet of medical office space, and more than 72,000 self storage units. Additionally, Harrison Street Securities LLC currently manages over $900 million in REIT securities through distinct long only product offerings. For more information visit www.harrisonst.com