Landmark Properties Acquires 67-Acre Site in Columbia, SC

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Jun 18, 2024, 13:26 ET

Partners with Peninsula U.S. to Begin Construction on 826-bed Cottage-Style Student Housing Community Serving University of South Carolina Students

COLUMBIA, S.C., June 18, 2024 /PRNewswire/ -- Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, has partnered with Peninsula U.S. to acquire a 67-acre site in Columbia, SC and commence construction on a 197-unit, 826-bed cottage-style student housing community. Landmark Cottage Construction, the in-house general contractor for Landmark Properties, is managing construction on the project. The new student cottage community is expected to open for occupancy in August 2026.

"Strong enrollment growth at the University of South Carolina has led to a surge in demand for quality housing options proximate to campus," said Wes Rogers, CEO of Landmark Properties. "We're excited to begin another development in the Columbia market and feel that our cottage-style community will offer students a spacious and amenity-rich housing solution while remaining close to campus."

Located at 1050 Idlewild Blvd. just 1.3 miles from the University of South Carolina main campus and less than a mile from Williams-Brice Stadium, home to the famed Gamecocks, the community will rise adjacent to a parcel earmarked for the university's "Stadium Project," a $1 billion modernization initiative slated to transform over 800 acres west of the stadium for commercial and entertainment uses. The property's proximity to these redevelopment areas will place residents at the heart of the action as the University has challenged developers to plan for uses such as hospitality, retail or additional athletic facilities.

The community will include a mix of floorplans ranging from two- to six-bedroom options. Fully furnished residences will be wired for high-speed internet and will include private bathrooms and high-end finishes such as hardwood-style laminate floors, quartz countertops and stainless-steel appliances as well as oversized kitchen cabinets for added storage and a full-sized washer/dryer in each residence.

The robust amenity package at the community will also include a resort-style outdoor pool complex featuring a sun deck, cabanas, hammocks, a Jumbotron and outdoor grilling stations. Residents will also have access to a sand volleyball court, a sports simulator and fire pits. The property will also feature an expansive clubhouse with a 24-hour fitness center, dedicated study spaces, and a computer lab. Students will also have access to a complimentary shuttle service for convenient commuting to and from the USC campus and downtown Columbia.

"We are excited to partner with Landmark Properties in the development of this cottage-style community serving University of South Carolina students. This marks our 15th investment with Landmark," said Juan Fernando Valdivieso, Managing Director of Peninsula U.S. "The cottages at Columbia will bring a level of amenities unmatched in the market and will enhance the living and learning environments for students at University of South Carolina."

The new cottage-style community will add to the portfolio of properties managed by Landmark in Columbia which include The Standard at Columbia, which opened in 2023, and Saga Columbia, acquired by the firm in 2021.

About Landmark Properties

Headquartered in Athens, Ga., with an office in Atlanta, Landmark Properties is a fully integrated real estate firm, specializing in the acquisition, development, and management of high-quality residential communities. With $14 billion in AUM, Landmark's portfolio includes over 115 residential communities across the country with 72,000 beds under management. Additionally, Landmark benefits from an active development pipeline with 23 student and multifamily projects under construction or near term start with an estimated value of nearly $5 billion. Landmark's mission is to be the leader in development, construction, operations, and investment management of high-quality residential communities, delivering unrivaled service and experience to our residents, partners, and employees. For more information, visit www.landmarkproperties.com.

About Peninsula U.S.

Headquartered in Miami, FL, Peninsula U.S., a vertical within Peninsula Investments Group, is a leading real estate private equity firm, specializing in the acquisition and development of student housing and other residential projects in the US. Peninsula U.S. has invested in over 24,000 beds in more than 10,000 units across 55 properties in 20 U.S. states and in the UK, representing in excess of $4 billion of total development costs. www.peninsulainvestments.com.

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SOURCE Landmark Properties