Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announced it has recapitalized The Standard at Austin. The property is a 934-bed, student housing community located at 715 W 23rd St. in Austin, Texas. The community serves 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,” said Wes Rogers, President and CEO of Landmark Properties. “Landmark is continuing to see strong interest from investors looking to grow their exposure to the student housing sector by partnering with experienced sponsors.”
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.
