American Landmark Achieves $2 Billion in Opportunistic Multifamily Transactions in 2018

TAMPA, FL – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, wrapped up a productive first three quarters in 2018. The company completed 22 property acquisitions totaling over $1.4 billion to date. The newly acquired properties are located in high-growth MSAs across the Southeast, including premium locations in Broward and Palm Beach Counties; Orlando and Tampa; Houston and San Antonio, Texas; Charlotte and Raleigh-Durham, North Carolina; and Atlanta, Georgia.

American Landmark also divested 20 multifamily properties totaling $800 million, producing an average gross IRR of 27.2 percent and cash multiples of 1.9.

“We continue to execute a strategy of selectively acquiring underutilized apartment communities in locations with exceptionally strong multifamily fundamentals, including above-average job growth and population growth,” said Joe Lubeck, CEO of American Landmark. “Our business model is simple: identify value-add properties in secondary markets, and boost NOI by providing ‘best in class’ customer service, superior amenities, and top-notch management. We also successfully divest in a timely manner to provide outstanding returns to our shareholders.”

Looking ahead to the fourth quarter, American Landmark expects to acquire an additional $200 million in assets.

“With American attitudes shifting away from homeownership toward renting,” added Lubeck, ”we anticipate demand for apartments to exceed supply for the next several years, allowing us to continue to execute our value-add strategy and provide attractive, risk-adjusted returns for investors.”

American Landmark Apartments continues to succeed in a competitive environment through experience, discipline and an extraordinary operating platform with over 500 team members nationwide.  

About American Landmark Apartments: American Landmark Apartments/Electra America is one of the fastest-growing multifamily owner-operators in the United States. Based in Tampa, Florida, American Landmark specializes in the opportunistic acquisition and aggressive management of value-add multifamily assets located in high-growth markets throughout the Southeast United States. Our current portfolio consists of approximately 23,000 units in Florida, Georgia, North Carolina, South Carolina and Texas. The sponsorship team has a solid 25-year track record in the multifamily arena, having purchased and successfully exited over 150,000 units. Including the sale of its public company, Landmark Apartment Trust, to Starwood for $1.9 billion in 2015, the leadership team has delivered an average 23 percent IRR to investors over the past 25 years and our current funds are outperforming projections. We believe in alignment of interests between sponsors and investors, and full and transparent audited reporting in both GAAP and IFRS. American Landmark is committed to delivering great service and outstanding living environments to residents; and delivering consistent, attractive risk-adjusted returns to investors and partners. Visit us at www.alapts.com