US-based Landmark Properties is planning an expansion into the UK student housing sector.
The group, which last month appointed Tom Banning as its director of UK and Ireland development, is seeking to build a “seasoned” UK-based team to enable its expansion.
Banning joined the company in April from CA Ventures.
Wes Rogers, president and chief executive at Landmark Properties, said: “We see a tremendous opportunity to develop purpose-built student housing in the UK and Ireland and are confident that our expertise in developing high-quality student accommodation will be well received.”
The firm said the supply-demand imbalance, rising enrolment numbers, and a less mature market than the US offered attractive opportunities for student housing development in the UK and Ireland.
In the US, Landmark has $13bn (£10.3bn) of assets under management and a portfolio that spans 115 properties with around 71,000 beds. Its pipeline includes some 22 student and multifamily projects under construction or near-term start with an estimated value of nearly $5bn.
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