825-bed purpose-built student housing community near Auburn University

Athens, Ga. (December 11, 2025) – Landmark Properties, a fully-integrated real estate firm specializing in the development, construction, acquisition, investment management, and operation of high-quality residential communities, has closed on the acquisition of a 3.29-acre site in Auburn, Alabama in partnership with Manulife Investment Management (Manulife IM). The developer plans to build The Mark Auburn, an 825-bed student housing community at 141 Wright Street, the fifth project in a build-to-core joint venture executed with the Manulife Infrastructure Fund pool. Peninsula Investments also partnered on the project, adding to their investments across Landmark’s portfolio of student housing communities.

The mid-rise building will feature 329 mixed units, from studios to five-bedroom apartments. Landmark Construction will serve as the project’s general contractor, while BKV Group is the project’s architect. Delivery is anticipated in time for the Fall 2028 academic year.

The coveted downtown site is adjacent to the campus core of Auburn University and close to the multitude of dining, retail, and entertainment options on College Street and Magnolia Avenue.  Landmark was able to secure a coveted land assemblage that is split-zoned between the Urban Core and Urban Neighborhood West zones. Because of different zoning regulations, Landmark was able to incorporate four- and five-bedroom units in the portion of the building in the Urban Neighborhood West zone, giving the building a more optimal unit configuration relative to existing or future student housing supply.

“Landmark is happy to announce its second project in Auburn, a high-growth market with increasing demand for off-campus housing,” said Jason Doornbos, Chief Development Officer at Landmark Properties. “Our team was advantageous in negotiating a four-parcel site that falls across two zoning areas, which will allow us to achieve meaningful density at The Mark Auburn and stand out among similar properties in the area.”

All units at The Mark Auburn will be offered fully furnished and wired for cable and high-speed internet. Residents can enjoy quartz countertops, stainless-steel appliances, hardwood-style laminate floors, in-unit laundry, and large closets. 

“We are excited to expand our partnership with Landmark through the acquisition of this parcel, which is in a fortress location within the Auburn market,” said Jonathan Kimball, Associate Director at Manulife IM. “The Mark Auburn will benefit from strong market fundamentals and Landmark’s experience operating in the area.”

The building contains 31,000 square feet of indoor/outdoor amenity space. A clubhouse, rooftop pool, Jumbotron, grilling areas and fire pits, fitness center, sports simulator, and study lounge with café plus computer labs are all available for resident use. The planned development will also offer residents onsite parking for 853 vehicles, and areas for bike/scooter storage.

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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 over $15 billion in AUM, Landmark’s portfolio includes over 115 residential communities across the United States with 72,000 beds under management. Additionally, Landmark benefits from an active development pipeline with over 50 student and multifamily projects under construction or near-term start with an estimated value of over $10 billion. For more information, visit www.landmarkproperties.com.

About Peninsula

Headquartered in Miami, FL., Peninsula Investments Group is a leading private equity real estate firm specializing in the acquisition and development of student housing and residential projects in the U.S., as well as residential developments across Latin America and the UK. In student housing, the firm has invested in over 34,000 beds within more than 10,000 units in 21 U.S. states and the UK. For more information, visit: www.peninsulainvestments.com.

About Manulife Wealth & Asset Management

As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

Media Contacts:

Landmark Properties

Great Ink Communications – (212) 741-2977

Lindsay Church –  Lindsay@greatink.com
Sara Williams – Sara@greatink.com
Eric Gerard – Eric@greatink.com

Manulife Investment Management 

Elizabeth Bartlett
Manulife Investment Management
Elizabeth_Bartlett@Manulife.com