Landmark Properties and Blackstone Real Estate Income Trust acquire student housing portfolio
Landmark Properties 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 more than 54,000 beds. This transaction builds on 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 Wes Rogers, Landmark president and CEO. “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 consisten