Landmark Properties Closes on Recapitalization at The Mark Athens Student Housing Complex in Athens

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The Mark Athens
Residents at The Mark Athens enjoy 55,000 square feet of indoor/outdoor amenity space including Athens’ largest rooftop pool and sun deck featuring a jumbotron and views of the surrounding campus, Sanford Stadium and downtown Athens. Well-appointed study spaces, a fitness center, golf-simulator, racquetball court, and indoor basketball court round out the amenity package at The Mark Athens. Landmark Properties has developed several projects in the area and manages a total of 3,257 beds in Athens.

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 Mark Athens, a 1,364-bed, mixed-use property featuring student apartments as well as retail and office space.

Located at 130 Hickory St. in Athens, Georgia, The Mark Athens serves students attending the University of Georgia. The recapitalization of The Mark contributed to the approximately $700 million in year-end closings across a series of transactions closed by Landmark in the month of December 2023.

“The continued resilience of the student housing sector has attracted a variety of institutional investors and this successful recapitalization underscores the market’s confidence in the sector,” said Wes Rogers, CEO of Landmark Properties. “The Mark Athens is our flagship property. Our corporate headquarters is in this building. It’s the premier asset in our hometown, and we’re glad to have a longer term capital structure in place for this building.”

Landmark developed the property in two phases with the first phase, completed in 2017, offering 928 beds, and a second phase, completed in 2022, offering 436 beds, The Mark Athens student apartments include floorplan options ranging from studios to six-bedroom apartments. The complex also boasts 67,000 square feet of retail and 46,734 square feet of office space. Landmark Properties, founded in Athens in 2004, occupies over 90 percent of the office space for its corporate headquarters. Situated adjacent to the Athens Greenway, the location provides convenient access to expansive green spaces featuring biking, hiking and running trails.