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**Liberty Mutual and Landmark Properties Launch Student Housing Developments in Pennsylvania and Connecticut**
Liberty Mutual Investments (LMI) and Landmark Properties have announced their first joint ventures, which will see the development of 1,255 off-campus student housing units in Pennsylvania and Connecticut. The two major projects include The Mark State College, a 515-bed high-rise serving Pennsylvania State University in State College, and The Mark Mansfield, a 740-bed community near the University of Connecticut in Storrs. TSB Capital Advisors served as the arranger for the financing of both developments.
“We’re excited about forging this relationship with LMI and look forward to working together on future initiatives,” said Walt Templin, president and CIO of Landmark Properties. “Our shared commitment to providing housing options in university communities will help students excel in their academic careers while also reducing the pressure on the local housing market.”
The Mark at State College marks LMI’s third investment in student housing within the Penn State market. LMI currently owns a student housing portfolio totaling approximately 17,000 beds.
*Rendering of The Mark Mansfield courtesy of Newman Architects.*
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