ATHENS, Ga. – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announced today it has recapitalized The Standard at Austin a 934-bed, student housing community located at 715 W 23rd St. in Austin, TX. The community serves the students attending the University of Texas-Austin.
TSB Capital Advisors arranged the debt on the transaction.
“The recapitalization of The Standard at Austin adds to a record year of transaction activity for Landmark in 2023. Landmark is continuing to see strong interest from investors looking to grow their exposure to the student housing sector by partnering with experienced sponsors,” said Wes Rogers, President and CEO of Landmark Properties.
The Standard at Austin, completed in 2021, is situated directly across the street from Landmark’s second ground-up development in West Campus, The Mark Austin, which opened in July 2023. The firm owns and operates several other student housing communities in the West Campus neighborhood, proximate to the University of Texas-Austin. In total, Landmark owns and operates six properties in Austin comprising 3,729 total beds.
Located three blocks from the University of Texas-Austin and steps from myriad dining and entertainment options of the West Campus neighborhood, The Standard boasts floor plans ranging from studio to six -bedroom student residences. The community features 33,000 square feet of amenities from a state-of-the-art fitness center, several well-appointed study lounges and an expansive rooftop pool deck with jumbotron to a VIP deck and lounge on the 17th floor offering sweeping views of the Austin skyline and Texas Hill Country. In 2022, The Standard at Austin won Student Housing Business’ Best Architecture and Design award for an off-campus property with over 400 beds.
