Landmark Properties Announces Start of Construction on Second Build-to-Rent Neighborhood in Spring, TX

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The Everstead in Windrose is expected to be delivered in 2024

ATHENS, Ga., October 52022 /PRNewswire/ — Landmark Properties, a fully integrated real estate company specializing in the development, construction, investment management and operation of high-quality residential communities, announces groundbreaking for its new build-to- rent” (BTR) division focused on single-family rental neighborhoods. Construction is expected to begin in October at Everstead to Windrose in Spring, Texas. The project will be continued in partnership with Principal Real Estate Investors.

“Landmark is delighted to launch our partnership with Principal, and we look forward to developing a first-class neighborhood with The Everstead at Windrose,” said Landmark Properties President and CEO, wes roger. “With nearly 30 BTR projects underway, our fully integrated platform is well positioned to rapidly grow our single-family rental housing portfolio despite distressed capital markets.”

Everstead to Windroselocated at 7801 Farm to Market 2920 at Spring, Texaswill add 194 townhouses, single-family homes and cottage-style homes to the Houston the rental offer of the territory. The gated community will provide residents with access to high-quality shared amenities including a resort-style pool, fitness center, playground, grilling area, dog park, garden with hammocks, a petanque court and a café-bar. There will be on-site parking with several spaces dedicated to guests. The development will incorporate sustainable features and is expected to achieve bronze certification from the National Green Building Standard.

Homes will feature quartz countertops, stainless steel appliances, large pantries, hardwood-style floors, full-size washers and dryers, ceiling fans, master bedroom walk-in closet, and backyard with private patio. Some units will have 10 foot ceilings and an attached garage or storage room. Located to the north Houston suburb of Spring, Everstead to Windrose offers residents proximity to several commercial and entertainment areas, including Woodsthe Tall Pines Amphitheatre, Market Street and the of the forest Children’s Museum. The community is expected to be completed in 2024.

“The neighborhood in which The Everstead at Windrose is being developed is near a planned community with single family homes, award-winning schools and attractive retail,” said Blair Sweeney, general manager of development for the build-to-rent division of Landmark. “We are thrilled to offer residents and their families the opportunity to live in a single-family style home in an attractive location while enjoying the amenities and services typical of a condominium community.”

“This project is part of our strategy to provide a high-quality housing solution at a reasonable cost to individuals and families desiring the benefits of a single-family home experience with the financial flexibility of being a tenant,” said Jim Halliwell, Managing Director, Real Estate, Leading Global Investors. “We are thrilled to partner with Landmark, who share our vision of creating aesthetically pleasing communities and delivering a top-notch guest experience, in conjunction with a commitment to sustainability.”

Landmark’s build-to-rent division was established in 2021 and will bring more single-family homes to market to meet current demand across the country. Landmark Construction serves as the general contractor for this development project.

TSB Capital Advisors arranged the financing for the project. To learn more about Landmark’s build-to-rent division, visit landmarkproperties.com.

About mark properties

Based at Athens, Ga.with an office Atlanta, Landmark Properties is a fully integrated real estate company specializing in the acquisition, development and management of high quality residential communities. With over $10 billion Assets Under Management, Landmark’s portfolio includes nearly 100 residential communities across the country with more than 60,000 beds under management. Additionally, Landmark benefits from an active development pipeline with 21 student and multi-family projects under construction with an estimated value of $3.7 billion. Landmark’s mission is to be the leader in the development, construction, operation and investment management of high quality residential communities, providing unparalleled service and experience to our residents, partners and employees. For more information, visit www.landmarkproperties.com.

About Principal Real Estate

Principal Real Estate is the dedicated real estate investment team within Principal Global Investors, a diversified asset management organization and member of Principal Financial Group®. As one of the top 10 global property managers1 Principal Real Estate has over 60 years of experience in real estate investing2. The firm’s capabilities span the spectrum of public and private equity and debt investments, and it manages or sub-advises $100 billion in commercial real estate assets (at June 30, 2022).

1 Managers ranked by total global assets (net of leverage, including contributions committed or received but not yet invested, REIT securities are excluded), at June 30, 2021. “The Largest Real Estate Investment Managers”, Pensions & Investments, October 4, 2021.
2 Major real estate investors have registered with the SEC in November 1999. Activities noted prior to this date began with the real estate investment management area of ​​Principal Life Insurance Company and later Principal Capital Real Estate Investors, LLC, the predecessor company to Principal Real Estate Investors.

SOURCE Landmark Properties

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