Transactions - DECEMBER 17, 2019

Goldman Sachs, Landmark Properties acquire two student housing properties

by Released

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, Ala.

My House on Caplewood was built in 2017, and My House on the 50 was built in 2018. Both properties are currently 100 percent occupied.

The transaction represents the third student housing acquisition for Landmark Properties in the past four months. In August, Landmark acquired 446 beds in Ann Arbor, Mich. In a separate deal, the company acquired another 1,130 beds in Austin and Tallahassee, Fla.

The company currently has 2,600 beds under contract, with closings anticipated in first quarter 2020.

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