Landmark Closes $300M Fund to Back Student Housing Development
Landmark Properties has completed the final close of its Landmark Sponsor Fund, LP at $300 million, surpassing its initial $200 million target and reinforcing investor appetite for U.S. student housing development.
The fund is designed to support Landmark’s merchant development strategy, primarily co-investing alongside the firm’s joint ventures across high-quality projects in tier 1 markets. It has already deployed capital into several developments and will draw from Landmark’s more than $10 billion pipeline.
“The Sponsor Fund enhances our competitive position as the most active developer of student housing in the U.S., allowing us to act quickly and decisively on compelling opportunities in order to deliver compelling risk-adjusted returns for both our joint venture partners and fund investors,” said Wes Rogers, Chairman and CEO of Landmark Properties.
The final close comes roughly seven months after the initial closing, with capital commitments from a diverse mix of institutional and private wealth investors. Participants include insurance companies, pension funds, RIAs and family offices, reflecting continued crossover demand for real estate strategies with development upside.