Landmark Properties and Goldman Sachs Acquire Two Student Housing Properties Adjacent to The University of Alabama Totaling 311 BedsDecember 12, 2019
ATHENS, Georgia (December 12, 2019) — A joint-venture between Landmark Properties, a vertically-integrated student housing developer and owner-operator, and affiliates of the Goldman Sachs Merchant Banking Division recently acquired two properties from South City Partners. Both properties — My House on Caplewood, a 150-bed student housing property and My House on the 50, a 161-bed student housing property — are located adjacent to the University of Alabama in Tuscaloosa, Alabama.
My House on Caplewood
My House on Caplewood was built in 2017, and My House on the 50 was built in 2018. Both properties are currently 100% occupied.
“Landmark remains tremendously active in the acquisitions market, as we explore and execute deals that add to our Class A student housing portfolio,” said Landmark Properties President and CEO Wes Rogers. “We look forward to creating an unsurpassed living experience for our new residents in Tuscaloosa.”
My House on the 50
“As we move into 2020 and beyond, we will continue to focus on developing and acquiring high-quality assets that are pedestrian to flagship universities,” said Rogers.
The transaction represents the third student housing acquisition for Landmark Properties — the nation’s top student housing developer — in the past 4 months. In August, Landmark acquired 446 beds in Ann Arbor, Michigan. In a separate deal, the company acquired another 1,130 beds in Austin, Texas and Tallahassee, Florida.
Landmark continues to pursue acquisition opportunities in markets across the country, adding to its impressive $5.2 billion owned properties portfolio. The company currently has 2,600 beds under contract with closings anticipated in the first quarter of 2020.
About Landmark Properties
Ranked as the nation’s most active student housing developer and top student housing contractor, Landmark Properties is a vertically-integrated developer and owner-operator with over 750 employees and $5.2 billion of assets under management. Landmark’s current portfolio includes more than 60 student housing properties across the country and over 35,000 beds, including over $1.6 billion in assets currently under construction. For additional information, visit www.landmarkproperties.com.
About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.
For Landmark Properties