Tampa, Fla. – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, has announced its intentions to add another $2 billion in apartment properties to its growing multifamily portfolio in 2019 – exceeding its 2018 investment target. The privately held company, which specializes in value-add multifamily acquisitions and repositioning, acquired nearly 9,000 apartments worth over $1.5 billion in 2018. The company’s total portfolio now exceeds 25,000 apartments, valued at over $4 billion, in key markets throughout the Southeast and Texas.
Specifically, American Landmark is focused on expanding its portfolio of workforce apartments in fast-growing Sun Belt markets like Orlando and Jacksonville, Fla.; Raleigh and Charlotte, N.C.; and Houston, Texas; which are all experiencing above-average job growth and a significant influx of new residents.
“We achieved our goal of $1.5 billion in acquisitions in 2018, capping off a successful year that exemplifies our strength at identifying off-market opportunities and executing quickly,” said Joe Lubeck, CEO of American Landmark Apartments. “We intend to stay the course in 2019 and continue to focus on Sun Belt cities where job and population growth remains healthy and the demand for workforce apartments – particularly Class A minus and B product – is incredibly strong. It feels like we’re in the 17th inning for multifamily real estate now, but with more people renting than ever before, I think we’ve still got several innings ahead of us.”
In 2018, American Landmark acquired 28 multifamily assets in key markets throughout the Southeast and Texas, adding 8,960 apartments to its portfolio. The company simultaneously divested $800 million in assets. American Landmark acquisitions in 2018 are listed below according to geography:
• Beach Walk, a 240-unit apartment community in Dania Beach, Fla.
• Park Colony, a 316-unit apartment community in Hollywood, Fla.
• Siena Apartments, a 292-unit apartment community in Plantation, Fla.
• Hidden Harbor Apartments, a 200-unit apartment community in Royal Palm Beach, Fla.
• Carlyle at Crosstown, a 300-unit apartment community in Tampa, Fla.
• The Aspect, a 432-unit apartment community in Kissimmee, Fla.
• High Ridge Landing, a 184-unit apartment community in Boynton Beach, Fla.
• West End at 76Ten, a 216-unit apartment community in Tampa, Fla.
• The Vive at Kellswater, a 312-unit apartment community in Charlotte, N.C.
• Highlands at Alexander Pointe, a 309-unit apartment community in Charlotte, N.C.
• The Oaks, a 318-unit apartment community in Charlotte, N.C.
• Madison Square at Northlake, a 287-unit apartment community in Charlotte, N.C.
• The Madison, a 460-unit apartment community in Charlotte, N.C.
• Sterling Town Center, a 339-unit apartment community in Raleigh, N.C.
• Steele Creek South, a 456-unit apartment community in Charlotte, N.C.
• Edinborough Commons, a 312-unit apartment community in Raleigh, N.C.
• Edinborough at the Park, a 330-unit apartment community in Durham, N.C.
• Arbor Village, a 240-unit apartment community in Charleston, S.C.
• Emery Bay, a 316-unit apartment community in Dallas
• Legends at Ridgeview Ranch, a 480-unit apartment community in Plano, Texas
• Haven at Liberty Hills, a 246-unit apartment community in Houston
• Hilltops Apartments, a 208-unit apartment community in Houston
• Advenir at Mansfield, a 334-unit apartment community in Mansfield, Texas
• Verse on Bell, a 336-unit apartment community in Nashville, Tenn.
• Brentridge Apartments, a 327-unit apartment community in Antioch. Tenn.
• One Rocky Ridge, a 300-unit apartment community in Douglasville, Ga.
• The Oxford, a 240-unit apartment community in Conyers, Ga.
• Madison at River Sound, a 586-unit apartment community in Lawrenceville, Ga.