TSB Capital Advisors Arranges Financing for Landmark Properties' Acquisition of 128-Bed Student Housing Community in Athens, GA

TSB Capital Advisors has arranged debt financing for the acquisition of Eclipse on Broad, a 128-bed student housing community in Athens, Georgia, the firm announced. Seacoast Bank served as lender for the transaction, which was completed by Landmark Properties and Kane Properties.

Property Overview and Location

Eclipse on Broad is situated 0.14 miles northeast of the University of Georgia campus. Built in 2013, the community consists of one mid-rise apartment building known as "The Flat," featuring four-bedroom layouts, along with five separate townhome units, each with four-bedroom layouts and private two-car garages. On-site parking accommodates 68 vehicles.

Unit interiors include hardwood-style vinyl plank flooring, stainless-steel appliances, granite countertops, walk-in closets, Smart TVs in living rooms, and a private bathroom for each bedroom. Shared amenities include a clubhouse, study lounges, a 24-hour fitness center, and an outdoor courtyard with grills.

Transaction Details

TSB Capital Advisors served as capital markets broker on the transaction, arranging the debt financing. Seacoast Bank provided the loan. Financial terms of the deal, including purchase price, loan amount, and cap rate, were not disclosed.

The acquisition adds to Landmark Properties' existing footprint in Athens, where the firm now owns or operates seven student housing assets comprising more than 3,000 beds. Eclipse on Broad is adjacent to The Mark, described by Landmark as its largest asset in the Athens market.

"We're excited to add Eclipse on Broad to our portfolio in Athens," said JD Goering, Senior Vice President of Acquisitions at Landmark Properties. "The community adds to the company's portfolio of quality pedestrian-to-campus housing. Eclipse on Broad's location adjacent to Landmark's largest asset in the market, The Mark, makes it a natural fit into the company's portfolio."

About the Firms Involved

Landmark Properties is headquartered in Athens, Georgia, with additional offices in Atlanta, New York, and London. The firm specializes in the development, construction, acquisition, and operation of residential communities. The company reports more than $15 billion in assets under management, a portfolio of over 115 residential communities across the United States, and approximately 74,000 beds under management. Landmark also maintains an active development pipeline with more than 50 student and multifamily projects under construction or in near-term planning.

Kane Properties participated in the acquisition as a co-sponsor alongside Landmark Properties. Seacoast Bank provided the debt financing for the deal. TSB Capital Advisors arranged the financing on behalf of the buyer group.