Landmark Properties has delivered The Mark Philadelphia, a 909-bed student housing community in the University City neighborhood. Rising 34 stories, The Mark is the tallest student housing property in the University City submarket and is Landmark’s second ground-up development in Philadelphia, following The Standard at Philadelphia, which opened in 2023.
The property at 3615-35 Chestnut St. was designed by BKV Group, with Landmark Construction, the in-house construction arm of Landmark Properties, serving as general contractor. The Mark is a block from the University of Pennsylvania campus and near Drexel University.
“With most UPenn and Drexel students living off campus, there is strong demand for newer housing with a robust amenity package, modern finishes, and a range of floor plans,” said Jason Doornbos, chief development officer at Landmark Properties. “. The Mark raises the bar for students living in University City. Its height gives residents views of the city you can’t find anywhere else in the submarket, and its amenities and finishes set a new standard for the UPenn and Drexel market.”
Tamarack, a 23-unit apartment community at 211 N. Delaware Avenue in Wenatchee, Washington, has sold for $3.25 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team represented the seller, Dan Dahl. The 21,400-square-foot garden-style community is located steps from downtown Wenatchee and offers investors a value-add opportunity in a highly...
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Leading financial services provider Merchants Capital announced $97.8 million in financing for the rehabilitation of Stuart Gardens, a 491-unit, two-phased affordable multifamily property in Newport News, Virginia. developed by Vitus Group. Merchants Capital secured $62.8 million in U.S. Department of Housing and Urban Development (HUD) 221(d)(4) permanent financing and $35 million in equity bridge loans...
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Colliers announced the $17.5 million sale of 6700 Roosevelt, an 88-unit multifamily community directly across from the Roosevelt light rail station in Seattle’s Roosevelt neighborhood. Coverse Capital Investments acquired the property from 6700 Roosevelt LLC. Sam Wayne, senior vice president, and associates Dylan Luxenberg and Reed Gustavsen of Colliers, represented the seller and procured the...
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