Landmark Properties Acquires Three Properties in Austin and Tallahassee Totaling 1,130 BedsSeptember 27, 2019
ATHENS, Georgia (September 27, 2019) — Athens, Georgia-based student housing company Landmark Properties has acquired three properties from 908 Group, including: The Nine at Rio, a 347-bed student housing property and The Nine at West Campus, a 345-bed student housing property, both located adjacent to the University of Texas – Austin; and The Nine at Tallahassee, a 438-bed student housing property adjacent to Florida State University.
Construction at The Nine at Rio and The Nine at Tallahassee were completed this fall, and The Nine at West Campus delivered last year. All three properties have strong occupancy rates.
“This deal is indicative of our continued growth and expansion both in student housing development and acquisitions,” Landmark Properties President and CEO Wes Rogers said. “These are all high-quality housing options in high-demand pedestrian locations near flagship universities, and we look forward to bringing our proven property management approach to these communities and creating an unsurpassed living experience for residents.”
This transaction is the second student housing acquisition for Landmark Properties — the nation’s top student housing developer — in the past 30 days, and the second transaction completed in partnership with an investment group led by Ocean West Capital Partners.
Last month, Landmark announced its acquisition of Zaragon Place and Zaragon West, two properties in Ann Arbor, Michigan, totaling 446 beds.
Landmark continues to pursue acquisition opportunities in markets across the country, adding to its impressive $4.1 billion owned properties portfolio. The company currently has three properties under contract with closings anticipated later this year.
About Landmark Properties
Ranked as the nation’s most active student housing companies, Landmark Properties is a vertically-integrated developer and owner operator of more than 62 student housing projects across the country, totaling nearly 35,300 beds, and has over $2.9 billion in assets currently under construction. For additional information, please visit our website at www.landmark-properties.com.
For Landmark Properties