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Landmark Properties And Blackstone Real Estate Income Trust Announce A $784 Million Joint Venture To Recapitalize And Acquire 5,416 Bed Class A Student Housing Portfolio

PRIVATEAug 21, 2021

Acquiring Company

Landmark Properties

United StatesNew YorkReal EstateHospitality

Description

Landmark Properties, a vertically integrated student housing developer and owner-operator, has entered into a joint-venture partnership with Blackstone Real Estate Income Trust, Inc. ("BREIT") to recapitalize eight student housing assets totaling 5,416 beds across the U.S. With this transaction, Landmark's portfolio includes 79 student housing communities.

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Company Information

Company

Landmark Properties

Location

United States

About

Landmark Properties is a fully integrated real estate firm headquartered in Athens, Georgia, with an additional office in Atlanta. Specializing in the acquisition, development, and management of high-quality residential communities, Landmark manages a portfolio of over 115 properties across the United States, totaling 72,000 beds and $15 billion in assets under management. With a robust development pipeline of more than 50 student and multifamily projects valued at over $10 billion, Landmark continues to be a leader in the residential real estate sector.

Company

Blackstone Real Estate Income Trust

Location

New York, New York, United States

About

Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in real estate investing. Blackstone's real estate business was founded in 1991 and has approximately $208 billion in investor capital under management. Further information is available at www.breit.com. SOURCE Landmark Properties

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