Landmark Properties and Manulife Investment Management Partnership to Develop 890-Bed Student Housing Community in Connecticut

Landmark Properties and Manulife Investment Management Partnership to Develop 890-Bed Student Housing Community in Connecticut

STORRS, CT - Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, has formed a new build-to-core joint venture with Manulife Investment Management. The partnership will focus on developing and operating residential properties in targeted markets throughout the United States and has pre-identified several potential development opportunities, with the first being The Standard at Four Corners, an 890-bed project at the University of Connecticut located in Storrs.

"Landmark is excited to partner with Manulife Investment Management on the development of The Standard at Four Corners," said Landmark President and CEO, Wes Rogers. "This represents the first investment in our new build-to-core venture with Manulife Investment Management. Landmark continues to attract institutional capital to the student housing space due to our track record of success, vertical integration, and out-performance during challenging economic times."

Located at 1717 Storrs Road, The Standard at Four Corners will be ready for occupancy in August 2025 and offers several distinct floorplans ranging from studios to three-bedroom. The design of these units, amenities featured, and the privacy the layouts offer are unique to Storrs and will attract attention from potential residents when weighing options among comparable properties. The property's pedestrian access will make way to both the campus core and downtown Storrs for residents.

"Manulife Investment Management is proud to partner with Landmark Properties, who we view to be best-in-class in the student housing sector, leveraging their experience across the United States to jointly develop a premier portfolio of assets," said Edward Dunn, managing director, Infrastructure Investments at Manulife Investment Management. "We believe the student housing sector represents a compelling investment opportunity underpinned by attractive supply/demand dynamics and strong historical performance."

Each apartment at The Standard at Four Corners provides a gourmet-style kitchen with ample cabinet space, quartz countertops and stainless-steel appliances. Every residence is fully furnished, offers hardwood-style flooring, and includes technology related amenities in the common area, high-speed internet and cable.

Additionally, residents can access 24-hour study lounges, fitness center and computer lab. The resort-style amenity spaces add extra opportunities for recreation and socialization with a gaming lounge, heated pool, hot tub, and fire pits. For residents with vehicles, a deck offers parking for an additional fee.

The development also features 14,500-square-feet of ground-floor retail space. Landmark Construction will serve as general contractor for the duration of the project.

According to CollegeSimply, the University of Connecticut is ranked as the best public university in the New England region.

With over $10 billion assets under management, Landmark's portfolio includes almost 100 residential communities across the country with approximately 60,000 beds. Landmark currently has 21 student, BTR, and multifamily projects under construction with an estimated value at $3.7 billion, and a significant and growing development pipeline.

Source: Landmark Properties / Manulife Investment Management

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