Blackstone and Landmark Properties Joint Venture’s $784 Million Acquisition of Student Housing Portfolio

Fried Frank acted as counsel to Blackstone Real Estate Income Trust in the transaction.

Blackstone Real Estate Income Trust (BREIT) entered into a joint venture with Landmark Properties for the US$784 million recapitalization and acquisition of a Class-A student housing portfolio, which includes eight student housing properties totaling 5,416 beds at leading universities across the United States.

Landmark Properties is one of the nation’s most active student housing developers and top student housing contractors.

Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. 

TSB Capital Advisors acted as financial advisor to both Landmark Properties and BREIT.

The Fried Frank team was led by corporate real estate partner Steven Rudgayzer (Picture) and included real estate partner Suzanne deVries Decker; tax partner Libin Zhang; corporate real estate associate Adam L. Streicher; and real estate associates Tyler Dash, Eric D. Marlowe, Megan K. Misencik, and Heather Paik.

Involved fees earner: Tyler Dash – Fried Frank Harris Shriver & Jacobson; Suzanne deVries Decker – Fried Frank Harris Shriver & Jacobson; Eric Marlowe – Fried Frank Harris Shriver & Jacobson; Megan Misencik – Fried Frank Harris Shriver & Jacobson; Heather Paik – Fried Frank Harris Shriver & Jacobson; Steven Rudgayzer – Fried Frank Harris Shriver & Jacobson; Adam Streicher – Fried Frank Harris Shriver & Jacobson; Libin Zhang – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: Blackstone Real Estate Income Trust, Inc.;

Author: Martina Bellini