Real Estate Firm With $15b In Assets Under Management Expands Into Senior Living

Landmark Properties, a student housing and multifamily real estate firm that closed 2025 with more than $15 billion in assets under management, is making its first foray into senior living.

Landmark has appointed Shashank Goel as its senior director of U.S. senior housing investment management to lead the expansion into senior living. Goel comes to the firm from Harrison Street, where he was involved in deal sourcing, underwriting, structuring and execution.

Senior housing has been on the firm’s radar for several years, and the company is getting into the space now because Walt Templin, president and chief investment officer at Landmark Properties, believes it’s the right time to do so.

“We’ve been deliberately patient — watching the sector recover from a unique black swan event, tracking the supply-demand dynamics, and monitoring rent pricing against development cost waiting for the right time and the right vector for entry,” Templin said. “The demographic tailwinds are undeniable, new supply has been constrained, and the sector is at a genuine inflection point. We felt strongly that entering at this point in the cycle, with the right leadership in place, was the disciplined move.”

Landmark Properties is a vertically integrated real estate firm with service lines in development, construction, investment management. Last year, the company launched $2 billion in new development through 10 projects. The company also has an in-house general contractor, Landmark Construction, which reached $4 billion in construction volume in 2025. It also closed about $3.5 billion in new student housing development, acquisitions, recapitalizations, and dispositions last year.

Landmark doesn’t own any senior living communities today, but it plans to develop and acquire communities to build out its senior housing portfolio across the nation with an eye on properties with services ranging from active adult to memory care, according to Goel. The firm is eyeing parcels of land, both on and off market acquisitions and looking at merger and acquisition opportunities.

While the Athens, Georgia-based company isn’t ready to announce any partners, it plans to work with senior living operators that “have the right systems in place, have long track records of success” and align with its values, Goel told SHN.

“We want to be very intentional in our approach, both from a product market and fundamentals perspective, but also with creating the right alignment with the right operators,” Goel said.

When it comes to development, unit count and community size are going to be dependent on a variety of factors, including operators available to manage them, location and individual needs of the market, according to Goel.

“We’re excited about this opportunity,” Goel said. “There’s a diverse set of investment opportunities set against a backdrop of one of the most compelling fundamental stories in the real estate sector. We’re really looking to be thoughtful in our entry and looking to bring our best in class full service investment management model to the senior housing space.”

Landmark Properties isn’t the only relative newcomer to senior living with an eye to invest in the industry. In recent years, Citrine Investment Group closed on its first senior living transaction and announced it would invest another $150 million in the industry and operators such as Priority Life Care launched growth funds with the hopes of fueling co-investment in acquisitions.

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