Liberty Mutual and Landmark Forge New Path in Student Housing with The Mark Communities
In an ambitious move to expand their footprint in the student housing market, Liberty Mutual Investments (LMI) and Landmark Properties have officially announced their joint engagement in the creation of two new student housing communities. The Mark State College and The Mark Mansfield will augment university life for students at Pennsylvania State University and The University of Connecticut, respectively, by adding a combined total of 1,255 off-campus housing beds.
These inventive projects demonstrate the first collaborative effort between LMI and Landmark, with the latter bringing over two decades of industry expertise to the table. It is a strategic play that aligns with LMI’s investment strategy, which has emphatically embraced student housing as an asset class, commanding a portfolio of approximately 17,000 beds. The intent is clear: to promote housing solutions purpose-designed for students that contribute to both personal growth and academic success.
The intricacies of the developments are poised to elevate student living standards. The Mark State College’s offerings include a full complement of luxurious amenities, from a rooftop pool with panoramic views of the campus to comprehensive wellness facilities—all aimed at fostering a balanced lifestyle. Meanwhile, The Mark Mansfield’s extensive suite of amenities underpins the same ethos, positioning the development as not only a place to live but a place to thrive.
Christopher Finn, Managing Director and Head of Real Estate at Liberty Mutual Investments, captures the sentiment behind these undertakings with a nod to sustainability and value: “These properties represent exceptional opportunities to deliver premier off-campus student housing at thriving universities—communities that will attract students and provide long-term value for residents.” It is not just about expanding a portfolio but about creating environments that resonate with the needs and aspirations of its student inhabitants.
Landmark Properties echoes this approach, with President and Chief Investment Officer Walt Templin expressing enthusiasm for the new partnership: “We’re excited about forging this relationship with LMI and look forward to working together on future initiatives.” He highlighted the progressive vision of accommodating the housing demands in university communities, touching upon the anticipated positive ripple effects such as easing local housing market pressures.
As funding is deftly secured through TSB Capital Advisors and physical foundations set, we observe a promising convergence of investment acumen and development experience—the propellers of this notable venture in the Multifamily industry. With over $100 billion of global long-term capital directed by LMI, it’s evident that the firm is committed to nurturing robust investments and cultivating relationships with leading entities like Landmark to shape a future where economy and community advance in tandem.