Athens, Ga. — Landmark Properties and Blackstone Real Estate Income Trust Inc. (BREIT) have acquired a four-property student housing portfolio totaling 2,248 beds. The sale is part of a joint venture announced in August 2021 for the two companies to purchase student housing properties across the U.S.
Property details and the seller were undisclosed. TSB Capital Advisors acted as financial advisor to both Landmark Properties and BREIT in the transaction.
“Landmark is excited to expand its relationship with Blackstone through the acquisition of this portfolio of core assets at universities with strong enrollment growth and high barriers to entry,” says Wes Rogers, president and CEO of Athens, Georgia-based Landmark Properties. “We see significant opportunity to leverage our track record as an experienced operator to add value to this portfolio.”