Student Housing Daily - December 3 - Landmark Properties and Stockbridge acquire 416 beds

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NEWS ROUNDUP

ACQUISITION: Landmark Properties and Stockbridge acquire 416 beds. Landmark Properties and Stockbridge have acquired The Tampa, a 416-bed student housing complex for $44.83 million. Originally developed by Landmark Properties in 2017, the property was sold to Nimes Real Estate in March 2021 for $34,19 million before the recent transaction. Wes Rogers, President and CEO of Landmark Properties, expressed confidence in the property’s continued success, citing the strong fundamentals of the USF market.

ACQUISITION: GFH acquires $300 million in US student housing assets. GFH has acquired Class A purpose-built student housing assets in the US valued at $300 million. The company collaborated with US-based student housing operators SQ Asset Management and Vesper Holdings on these transactions. “These transactions enhance our strong track record in the student housing sector, offering attractive risk-return opportunities to our investors” - Nael Mustafa, CEO, GFH. This acquisition expands GFH’s student housing portfolio to over 5,500 beds, with a total value of approximately $900 million.

DEVELOPMENT: McGrath Real Estate announces zoning changes for new student housing development. McGrath Real Estate has secured approval from the Lafayette County Board of Supervisors to rezone approximately 50 acres from residential low density (R-1) to residential high density (R-3). This change facilitates the development of a new community near Oxford, MS, comprising both student housing and for-sale single-family residences. Michael S. McGrath, president and CEO of the company, expressed gratitute for the county’s leadership, ephasizing the project’s alignment with local growth needs and commitment to responsible development.

DEVELOPMENT: UC Berkeley completes 772-bed complex. The University of California, Berkeley has completed Anchor House, a 14-story, 772-bed residence hall designed specifically for transfer students. The development was funded by philanthropic donations and opened ahead of the 2024-2025 academic year. The design and construction team included Morris Adjmi Architects, BDE Architecture, BCV Architecture, Andrea Cochran Landscape Architecture, PAE Engineers, BKF Engineers, and Luma Lighting Design.

FINANCING: Colliers arranges $34.6 million in acquisition financing. Colliers has arranged a $34.6 million acquisition loan for The Foundry, a 675-bed student housing property serving the University of Texas at Tyler. Located directly across from the university campus, The Foundry offers amenities such as a pool, clubhouse, game room, fitness center, outdoor picnic and grilling areas, and a sand volleyball court. The financing, originated by Greg Young of Colliers Mortgage, includes provisions for capital improvements.

READ: Cushman & Wakefield ranks universities in the SEC, ACC, Big Ten and Big 12 on student housing performance.

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