Residential Community with Top-of-the-Line Amenities Serves the University of Massachusetts Amherst and the Local Community
ATHENS, Ga. (March 28, 2022) – Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, expands its footprint into Massachusetts by acquiring North 116 Flats in Sunderland, Mass. This is Landmark’s first project in a joint venture with Prospect Ridge, a leading investment manager specializing in private equity real estate assets across multiple property classes and geographies.
“We are excited to enter the Amherst market with the acquisition of North 116 Flats,” said Wes Rogers, President and CEO of Landmark Properties. “We have known the Prospect Ridge Team for several years and are excited to partner with them on the acquisition and to be able to bring Landmark’s best-in-class management platform to the residents of North 116 Flats”
Serving residents in the area, North 116 Flats is located at 653 Amherst Road and is a short drive north of campus offers a balance of outdoor life, with the comforts of luxury living that provides 404 beds among 150 residential units.
The residential community is situated on the UMass bus route, and residents can enjoy a study lounge for office work or group learning, an outdoor fire pit and recreation lawn, a game room outfitted with a pool table, large TV, and cozy seating. Additionally, the development includes significant greenspace and a fitness center that provides free weights, cardio equipment, and a yoga studio to help residents unwind.
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 more than $8.3 billion assets under management, Landmark’s portfolio includes nearly 90 residential communities across the country with approximately 55,000 beds under management. Landmark’s mission is to be the leader in development, construction, operations and investment management of luxury housing communities, by delivering unrivaled service and experience to residents, partners and employees. For more information, visit www.landmarkproperties.com.
About Prospect Ridge
Prospect Ridge (www.prospectridge.com) is a leading investment manager specializing in private equity real estate investing and lending in the U.S. Our highly experienced team of 35 investment professionals was established in conjunction with Alliance Bernstein in 2009 prior to becoming an independent Investment Advisor in 2019. Together, this team has systematically developed and refined Prospect Ridge’s unique and disciplined approach to making investments and loans across multiple asset classes and domestic geographies throughout real estate cycles. Through Prospect Ridge and its predecessor entities, the team has invested in over 250 assets totaling $10.4 billion of gross cost since inception.
Contacts:
Kelly Gray
(706) 715-6878
Kelly.gray@landmarkproperties.com