Landmark Properties Partners with Peninsula Investments to Begin Construction on The Retreat at Bunn Hill in Vestal, NY

The 700-Bed Cottage-Style Community Near

SUNY Binghamton to Feature over 12,000 SF of Amenities

ATHENS, Ga. (October 23, 2024) - Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, has started construction on a new community in Vestal, NY, 0.6 miles south of the State University of New York (SUNY) Binghamton campus. The Retreat at Bunn Hill will be the first true cottage-style project in the Binghamton market, a product type that offers lower density housing while still providing an impressive array of resident benefits.

Construction has begun on the planned 700-bed, 161-unit off-campus, cottage-style community with Landmark Construction, the in-house general contractor for Landmark Properties, managing construction on the project. Totaling 314,300 square feet, The Retreat at Bunn Hill will offer 15 unique floor plans consisting of two- to five-bedroom cottages. The community is planned to deliver in the Summer of 2026.

"Our team has been working hard on this project for six years. We love the supply and demand fundamentals in this market and have experienced the significant barriers to entry," said Wes Rogers, President and CEO of Landmark Properties. "We're excited to bring our market-leading product to the SUNY Binghamton community. Kudos to the persistence of our team for making this happen!"

Each floor plan offers private bathrooms for every bedroom, with some offering extra half baths. All units will feature gourmet kitchens with quartz countertops; high-speed internet and cable; in-unit laundry; and, hardwood-style floors in the living areas. The Retreat at Bunn Hill will also feature an expansive suite of amenities including a 12,000-square-foot clubhouse and a heated outdoor pool as well as outdoor fire pits, a fitness center and other recreational offerings that will make the property stand out among competitors. The community will offer 554 parking spaces and residents will have access to an off-campus shuttle bus.

"Peninsula is thrilled to invest in The Retreat at Bunn Hill, located near Binghamton University, a prestigious R-1 public institution known for its long-standing tradition of academic and research excellence," said Juan Fernando Valdivieso, Managing Director of Peninsula. "We look forward to continuing our successful partnership with Landmark Properties in developing this highly amenitized, cottage-style community that will serve the Binghamton University community."

The Retreat at Bunn Hill will be Landmark Properties' third housing community in New York. The developer's portfolio in the state includes The Station Buffalo proximate to the University at Buffalo and The Standard at Syracuse, which is currently under construction for a Fall 2026 opening.

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About Landmark Properties

Headquartered in Athens, Ga., with an office in Atlanta, Landmark Properties is a fully integrated real estate firm, specializing in the acquisition, development, and management of high-quality residential communities. With over $14 billion in AUM, Landmark's portfolio includes over 115 residential communities across the country with 72,000 beds under management. Additionally, Landmark benefits from an active development pipeline with 23 student and multifamily projects under construction or near term start with an estimated value of over $5 billion. Landmark's mission is to be the leader in development, construction, operations, and investment management of high-quality residential communities, delivering unrivaled service and experience to our residents, partners, and employees. For more information, visit www.landmarkproperties.com.

About Peninsula Investments

Headquartered in Miami, FL, and Montevideo, Uruguay, Peninsula Investments Group is a leading private equity real estate firm specializing (through its different verticals) in the acquisition and development of student housing and residential projects in the U.S., as well as residential developments across Latin America. In student housing, the firm has invested in over 29,000 beds within more than 10,000 units across 66 properties in 21 U.S. states and the UK, representing over $4.7 billion in total development costs. www.peninsulainvestments.com

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