Landmark Properties, a fully-integrated real estate firm specializing in the development, construction, acquisition and management of high-quality residential living communities and Blackstone Real Estate Income Trust, Inc. (“BREIT”) have acquired, through their previously announced joint-venture, 2,248 beds across four student housing properties located in Tier 1 markets.

With this acquisition, Landmark adds to its growing portfolio of over 54,000 beds. This transaction builds upon Landmark’s record-setting volume of acquisitions and recapitalizations that exceeded $1.3 billion in 2021.

“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,” said Landmark President and CEO, Wes Rogers.  “We see significant opportunity to leverage our track record as an experienced operator to add value to this portfolio.”

Jacob Werner, Co-head of Real Estate Acquisitions Americas, said, "This transaction reflects our ongoing confidence in the student housing sector and is consistent with BREIT's strategy of acquiring high-quality, income generating properties that have attractive long-term growth potential."

TSB Capital Advisors acted as financial advisor to both Landmark Properties and BREIT.