Landmark, Stockbridge Recapitalize Orlando Student Community

Landmark Properties has partnered with Stockbridge for the recapitalization of The Retreat East, a 138-unit, 602-bed student housing community in Orlando, Fla. This marks the second transaction for the duo, after having acquired The Retreat Tampa in November.

The cottage-style property came online in 2021. Previous financing includes a $41.2 million construction loan originated by Synovus Bank the previous year, according to Yardi Matrix information.

The Retreat East is at 1705 France Drive, 2 miles from the University of Central Florida at Orlando campus and close to several dining and retail options. Downtown Orlando is within 14 miles, while Orlando Executive Airport is less than 9 miles away.

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The community encompasses 17 two- and three-story buildings spread across almost 12 acres. The unit mix comprises four-, five- and six-bedroom floorplans ranging from 1,444 to 2,476 square feet. All apartments are fully furnished and feature private balconies or patios.

Common-area amenities include a swimming pool with jumbotron and hammocks, fitness center and clubhouse, computer lab, private and group study lounges. Additionally, the property has a grilling area, outdoor gaming lawn and multi-sport simulator, as well as more than 205 parking spaces.

Landmark’s recent student housing activity

Landmark’s current student housing portfolio totals more than $14 billion in assets under management, involving 115 communities and 72,000 beds. The company also has 23 student and multifamily projects underway.

In November, Landmark announced plans to develop a 2,079-bed student housing project in College Park, Md. When complete, the community will serve the University of Maryland.

During the same month, the firm purchased The Ridge Clemson, a 184-unit, 616-bed student community in Clemson, S.C. The property is 97 percent occupied for the current academic year.