Liberty Mutual Investments and Landmark Properties Launch First Joint Student Housing Developments
Liberty Mutual Investments (LMI) and Landmark Properties have announced their first joint venture projects, set to deliver a combined total of 1,255 off-campus student housing units. The developments will be located in Pennsylvania and Connecticut, serving students at Pennsylvania State University and the University of Connecticut, respectively.
The two projects include The Mark State College, a 515-bed residential tower located in State College, Pennsylvania, and The Mark Mansfield, a 740-bed student housing community in Storrs, Connecticut. Both developments are being financed through arrangements facilitated by TSB Capital Advisors.
“We’re excited about forging this relationship with LMI and look forward to working together on future initiatives,” said Walt Templin, President and Chief Investment Officer of Landmark Properties. “Our shared commitment to providing housing options in university communities will help students excel in their academic careers while also reducing the pressure on the local housing market.”
The Mark at State College marks LMI’s third investment in student housing development within the Penn State market. Currently, LMI’s student housing portfolio encompasses approximately 17,000 beds nationwide.
Rendering of The Mark Mansfield courtesy of Newman Architects.
