ATHENS, GA – Landmark Properties, a fully-integrated real estate firm specializing in the development, construction, acquisition and management of high-quality residential living communities, has formed a joint venture with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) initially targeting $1 billion for investments. The programmatic joint venture will focus on acquiring and operating value-add student housing properties in targeted markets throughout the United States.
Landmark’s unique vertical integration of ownership, development, general contracting, and management allows for bought property improvements to be plotted and executed, making value for the properties’ residents and investors.
This new platform furthers a long-standing relationship between Landmark, the nation’s largest student housing developer, and ADIA. Existing joint ventures between Landmark and ADIA comprise assets with nearly 15,000 beds in tier 1 university markets throughout the country.
“Landmark and ADIA have been aligned from the start of our relationship, seeing tremendous opportunity in top-tier student housing markets,” said Wes Rogers, president and CEO of Landmark Properties. “We are confident we can find acquisition targets across the nation that will complement our existing development strategy. We are appreciative of the opportunity to expand our relationship with ADIA, one of the world’s leading institutional real estate investors.”
Salem Al Darmaki, Deputy Director of the Real Estate & Infrastructure Department at ADIA, said: “The expansion of our relationship with Landmark is an example of ADIA’s approach of working with best-in-class partners to invest in market-specific, high conviction investment themes. This new joint venture offers the opportunity to continue to grow our exposure to student housing in the US, a sub-sector that continues to show compelling fundamentals.”
With more than $8.3 billion assets under management, Landmark’s portfolio includes nearly 90 residential communities across the country with approximately 55,000 beds under management. Landmark benefits from an active development pipeline with 16 student and multifamily projects under construction with an estimated value at $3.1 billion.

Powered by WPeMatico

SAN ANTONIO, TX – RangeWater Real Estate has bought Legacy Heights, the 306- unit, garden-style apartment community located at 1320 Austin Way in Terrell Heights, adjacent to Alma Heights. This is the company s third foray into the market and second acquisition since July 2021 to meet the growing demand for homes.
San Antonio is a major focus in our team s continued expansion west, said Steven Shores, Chairman and CEO of RangeWater. The city s rapid growth has made demand for better housing that we are keen to deliver. Legacy Heights is a welcome addition to our growing San Antonio portfolio and we will invest in improvements to make this a best-in-class community.
Legacy Heights is just minutes from Brooke Army Medical Center, University of Incarnate Word, Fort Sam Houston, major employers and well loved shopping centers. It s also a small drive to the vibrant restaurants and happenings that comprise Pearl as well as the plethora of shopping options on Broadway.
RangeWater plans to invest significant capital to update the amenities, common areas and interiors of these homes, which were built in 2009. This includes enhancing the pool area, activating more green space, replacing lighting and appliances with more energy efficient selections and rehabbing the gym and lobby, all of which will bring the homes to the standard of the company s highly appointed portfolio, which spans the Sunbelt
The gate-accessed community, offering one-, two- and three-bedroom apartments. showcases an array of features, including washer/dryer connections, plush carpeting, wood vinyl flooring, gourmet kitchens, large walk-in closets, balcony/patio, storage and reserved covered parking. A central clubhouse is equipped with a huge screen TV, a billiard table, resident computer lounge, state-of-the-art fitness center, luxurious pool, outdoor kitchen, pet park and more.
This is a well-located property adjacent to the most affluent part of town, boasts simple access to employment centers, retail and nightlife, said Michael Hoy, RangeWater Director of the Southwest Region. It fits well into our strategic growth in San Antonio.
RangeWater s first acquisition in San Antonio involved converting an existing student housing complex into single-family rentals called Cottages at Leon Creek. The homes have met with quick leasing success. In addition, RangeWater s second foray is currently in progress and marks its first ground-up development of 154 for-rent townhomes on a 16.53-acre property in San Antonio to build 154 for-rent townhomes on the Texas State Highway Loop 1604. That property is a quick 12-minute drive from the airport, 20 minutes from downtown and near major employers such as USAA, H-E-B, Wells Fargo, Harland Clarke, J.P. Morgan, Rackspace Technology and the three military bases. Both of these San Antonio communities are part of RangeWater s Storia division, which is deploying capital across the Sunbelt to build single-family-rental (SFR) residential units.
Privately owned RangeWater was founded in 2006. The company buys, develops, manages and invests in multifamily communities across the Southeastern and Southwestern United States, with a $5.4 billion portfolio.

Powered by WPeMatico

PHOENIX, AZ – Korman Communities, in partnership with RXR, has completed the buy of its first property in the Phoenix market. The groundbreaking new, 348-unit, seven-tale, professionally managed, Class A property boasting 60,000 square feet of amenity space, AVE Phoenix Terra, offers a unique flexible-stay living solution in Downtown Phoenix.
We are focused on growing our AVE portfolio of first-class residential properties in key growth markets across the U.S. This acquisition represents the first of many new ventures in Phoenix, says Bradley Korman, co-CEO of the Philadelphia-area-based Korman Communities. We are proud to have RXR as our partner on this venture, as our organizations are aligned on values and visions for the future.
We re proud to partner with the Korman organization in providing our residents with a world-class living experience filled with amenity-rich programming, state-of-the-art technology, and ‘five-star service, says Scott Rechler, Chairman and CEO of RXR.
AVE will be introducing its furnished apartment service, offering flexible month-to-month leases to the Phoenix market. All furnished apartments include a custom furniture package, a fully accessorized kitchen, a washer and dryer in residence, a linen package, and all utilities.
We are a solution for individuals who need a comfortable, flexible place to stay for 30 days or more. The Phoenix housing market has never been hotter in recent history, with inventory at new lows, says Lea Anne Welsh, COO of Korman Communities and president of the AVE. We can be a place for them to hang their hat until they find their next home. They just need to bring their suitcase – we ll take care of the rest!
AVE also will bring its best-in-class multifamily apartment living experience, which is designed to deliver the ultimate carefree lifestyle and a strong sense of community.
AVE Phoenix Terra features a variety of apartment floorplans ranging from studio to three-bedroom featuring contemporary amenities including chef-inspired kitchens in two color palettes, speckled quartz countertops, tile backsplashes, stainless steel GE appliances, abundant closet space featuring walk-ins with custom shelving, hardwood-inspired flooring, large, walk-in showers with glass doors, garden-style soaking tubs, and a Smart washer/dryer in residence. Select apartments feature built-in wine refrigerators and private patios/balconies.
All residents delight in complimentary access to unprecedented, on-demand amenities featuring a resort, palm-tree lined sundeck with a sparkling pool, loungers, and relaxing hot tub, two large courtyards featuring grilling stations, a tranquility fountain, lounge seating, a putting green, and outdoor gaming, an expansive, wraparound patio offering indoor-outdoor bar seating, a fire pit lounge, and spectacular city, valley, and mountain views, a 24/7 multi-zone fitness center featuring cardio, strength, and spin with indoor/outdoor access, a business center with flex workspace and reservable conference room and private work suites, secure, personal, Gigabit WiFi that travels with residents throughout the community, a fully equipped dog wash station, a beverage bar with freshly brewed, bean-to-cup coffee machine and Kombucha station, a resident social lounge with fully equipped, chef-inspired kitchen and dining area, and a mixology lounge with Speakeasy. AVE s professional Resident Services team is on site seven days a week to help with day-to-day living needs.
We want to ensure our residents are comfortable and feel taken care of, says Welsh. Our experienced, friendly team is on site every day to provide a quality living experience and a sense of community through concierge support, events, and partnerships.
AVE Phoenix Terra also boasts 7,000-square-feet of retail space, with the goal to bring two exciting dining concepts to the neighborhood and ultimately offer more convenience amenities for residents.
AVE Phoenix Terra is centrally located in Downtown Phoenix, walking distance to restaurants, shops, and entertainment. It s also convenient to everything in the region – just 10 minutes from Phoenix Sky Harbor International Airport, 5 minutes from the Light Rail with stops in Downtown Phoenix, Tempe, and Mesa, and less than 5 minutes to I-17 and I-10, which connects with Loop 101, offering an simple commute to Peoria and Paradise Valley.

Powered by WPeMatico