Student Housing Business

JUL-AUG 2018

Student Housing Business is the voice of the student housing industry.

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THE SHB INTERVIE W July/August 2018 32 F Strategic Developer Landmark Properties is developing 57 projects. As the company's CEO, Wes Rogers enjoys having his hands full, but also makes time to enjoy a few side endeavors. Interview by Richard Kelley and Randall Shearin For the past few years, Athens, Georgia-based Landmark Properties has landed at or near the top of SHB's Top Developers ranking each spring. This year was no exception, with Landmark ranking at the top of our list with 21,000 beds and 32 projects underway set to open by fall 2021. Founded in 2004, Landmark has steadily expanded over the years, grow- ing its company and its prowess in the indus- try. Once known as a merchant developer, Landmark partnered with institutional capital in recent years that has allowed it to retain a number of its developments and build a strong management business. The company has also partnered with other owners, provid- ing management services. SHB recently interviewed Landmark's Founder and CEO Wes Rogers to get his take on the industry and Landmark's seemingly unstoppable growth. SHB: Landmark has ranked first in our Top Developers list in terms of number of beds under development for a few years. Can you give us an overview of your development activity? Rogers: We currently have about $2.2 billion worth of student housing under construction, representing 21 properties. We will launch 11 projects this year worth about $1.5 billion in value. If you look at our aggregate develop- ment pipeline, which stretches beyond proj- ects planned for construction this year, we have about 57 total projects and sites repre- senting more than $6 billion in our aggregate development pipeline. That is far and away the largest pipeline we've had in our com- pany's history. We continue to be excited and eager about the amount of attractive develop- ment opportunities our team has been able to source over the past couple of years. Our growth has been driven by the oppor- tunities that we see in the marketplace and not merely due to all the capital that's available. Our track record of suc- cessful execution is very important to us, so you won't see us doing deals we don't have con- viction in. In addi- tion to doing more deals than ever, we are also pass- ing on more deals than ever. Our pipeline growth has been driven by our team's ability to source, our ability to structure attractive joint venture deals for smaller developers who have great sites, and our access to unique capital that can quickly and aggressively take WES ROGERS Founder and CEO Landmark Properties Landmark is under construction with The Standard at Auburn, adjacent to the Auburn University campus in Alabama. The project will be 680 beds.

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