American Landmark Apartments (American Landmark) announces it received a “High Commendation” for Multifamily Fund of the Year from Real Estate Fund Intelligence (REFI) at the publication’s REFI US Awards 2019, held at the Metropolitan Club in New York City. The firm received the high honor for its Electra Multifamily Investment Fund I, a discretionary fund designed to procure yield in value-add opportunities located in the Southeast and Texas.
“We are greatly honored to receive this important recognition for a team effort in establishing a fund that was created to invest in some of the most dynamic multifamily markets throughout the country,” said Joe Lubeck, CEO of American Landmark. “Our work in providing investors with exceptional returns while offering high quality workforce housing is at the core of everything we do, and we will continue to provide innovative investment opportunities with this forward momentum.
“American Landmark’s fund received plenty of praise from the judges, with its specific investment strategy and dedicated geographic strategy as key highlights,” added Will Muoio senior reporter at REFI. “American Landmark were the only real estate fund manager to receive “High Commendation” that showed its significance in an increasingly competitive real estate fund market.”
Launched in 2016, the Fund raised $214 million and is currently delivering distributions of $56 million and projected returns of 22 percent. Fund dynamics that resulted in this recognition included the following:
• Investment in specific submarkets and even micro markets including Tampa, Jacksonville, Charlotte, Raleigh, all major metros in Texas and specific submarkets in Atlanta, Charleston and Nashville.
• Emphasis on using green initiatives on-site such as LED lighting, recycling on-site materials and trash, installing low-flow plumbing items and employing environmentally safe products for day-to-day use.
• A team of loyal and long tenure members with decades of combined experience engaging in innovative collaboration, as well as executive and on-site teams with individual voices and invaluable ‘boots on the ground’ knowledge that is the fuel needed to navigate a tough multifamily environment.
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