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J. Wesley Rodgers JD Goering And Terry Fancher Acquire Student Housing Near USC For $100M

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SOLD
$100,000,000

California

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Student Housing
Sold 05/13/2025
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Property Image
SOLD

J. Wesley Rodgers JD Goering And Terry Fancher Acquire Student Housing Near USC For $100M

3584 South Figueroa Street & 530 West 27th Street

See Similar Deals
Student Housing
Sold 05/13/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Student Housing
Transaction Type:Sale

The transaction involved the sale of a student housing asset located at 3584 South Figueroa Street and 530 West 27th Street, in the Los Angeles market. The property encompasses a total of 218 units and offers 704 beds for student accommodation. The total sale price for this off-market deal was $100,000,000, resulting in a price per unit of $458,716.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $100,000,000
  • Units: 218
  • Beds: 704
  • Buyer: J. Wesley Rodgers & JD Goering - Landmark Properties; Terry Fancher - Stockbridge Capital Group

This acquisition boosts Landmark Properties' student housing presence in Los Angeles to nearly 2,200 beds, with additional projects in development to address increasing off-campus housing demands for students.

Players

Terry Fancher
Stockbridge
Terry Fancher
18 deals$1.1B volume
BUYER
Landmark Properties
Landmark Properties
BUYER
Landmark Properties
Landmark Properties
BUYER

Details

SOLD
IMAGE: J. Wesley Rodgers, JD Goering & Terry Fancher DATE: 05/13/2025 ADDRESS: 3584 South Figueroa Street & 530 West 27th Street MARKET: Los Angeles ASSET TYPE: Student Housing ~ BEDS: 704 BUYER: J. Wesley Rodgers & JD Goering - Landmark Properties (@LandmarkPropertiesInc); Terry Fancher - Stockbridge Capital Group SALE PRICE: $100,000,000 UNITS: 218 ~ PPU: $458,716 NOTE: Landmark Properties and Stockbridge Capital Group acquired Icon Plaza and West 27th Place near USC for $100M, totaling 218 units and 704 beds.The off-market deal boosts Landmark’s L.A. student housing presence to nearly 2,200 beds, with more projects underway to meet rising off-campus demand.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,333,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21