Landmark, Blackstone REIT Purchase 2,248-Bed Student Housing Portfolio
ATHENS, GA. AND NEW YORK CITY — Athens-based Landmark Properties and Blackstone Real Estate Income Trust Inc. (BREIT) have purchased 2,248 beds across four student housing properties located in Tier 1 markets. The properties’ locations and other property features were not disclosed. The seller and sales price were also not disclosed. The sale is part of the joint venture announced in August 2021 for the two companies to purchase student housing properties across the United States.
With this acquisition, Landmark adds to its portfolio of over 54,000 beds. This transaction builds upon Landmark’s volume of acquisitions and recapitalizations that exceeded $1.3 billion in 2021. TSB Capital Advisors acted as financial advisor to both Landmark Properties and BREIT.