American Landmark Acquires 1,212-Unit Multifamily Housing Portfolio in High-Growth Markets

American Landmark Acquires 1,212-Unit Multifamily Housing Portfolio in High-Growth Markets

TAMPA, FL – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired four properties in Florida, Georgia and South Carolina as part of a four-property portfolio purchase totaling 1,212 apartment units.

The four properties acquired in the portfolio are:

Arbor Terrace, to be renamed One Rocky Ridge, is located at 1 Rocky Ridge Boulevard, Douglasville, GA. Built in 2003, the property has 300 apartments and is 95 percent occupied.

Summerset, to be renamed The Oxford, is located at 50 Greenleaf Road, Conyers, GA. Built in 1999, the property has 240 apartments and is 96 percent occupied.

Bella Apartments Homes, to be renamed The Aspect, is located at 3101 Segreto Lane, Kissimmee, Fla. Built in 2010, the property has 432 units and is 96 percent occupied.

Arbor Village is located at 10825 Dorchester Road, Charleston, S.C. Built in 2014, the property has 240 units and is 93 percent occupied.

“As the unemployment rate continues to decrease nationwide, our focus continues to be on high-growth areas where we can provide exceptional value-add amenities and services to residents,” said Christine DeFilippis, Chief Investment Officer at American Landmark. “We’re looking forward to additional opportunities that will allow us to elevate the living experience for area residents while still providing homes at price points that they can afford.” 

American Landmark, and its debt and equity partner Electra America, are selectively acquiring value-add properties in strategic locations across the Southeast. The firm, whose property portfolio currently consists of approximately 23,000 apartments in five states, expects to complete $1.5 billion in multifamily acquisitions in 2018. All of its newly acquired properties are upgraded and modernized, providing many of the amenities today’s renters desire most.

Source: American Landmark / #Apartments #Multifamily

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