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American Landmark, and its equity partner Electra America, continue to selectively acquire properties in excellent locations across the Southeast and Southwest. The company has completed 26 property acquisitions worth over $1.5 billion since the beginning of 2018, adding over 10,000 apartment units to its portfolio.
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About American Landmark
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.
residents; and delivering consistent, attractive risk-adjusted returns to investors and partners.
Berkadia secured financing for the acquisition of Emery Bay at Lakepointe, a 360-unit, garden-style apartment community located in Lewisville, Texas, approximately 30 minutes north of Dallas. Senior Managing Director Mitch Sinberg and Associate Director Matt Robbins of Berkadia’s South Florida office, along with Senior Managing Director Robert Falese and Managing Director Matthew Cullison of Berkadia’s Philadelphia office, secured the loan on behalf of the borrower, American Landmark Apartments.
Fannie Mae provided the 10-year, fixed rate loan for $36.59 million, with full-term interest only, through its Green Rewards program.
Built in 1997, Emery Bay at Lakepointe is located at 901 Lakeside Circle and consists of one-, two- and three-bedroom apartments in 12 three-story buildings. Units have new granite countertops, new cabinets, 9- or 10-foot ceilings, and wrap-around patios or balconies. Amenities include a clubhouse with business center and cyber café, fitness center with a yoga room, resort-style swimming pool with spa, volleyball court, bark park, and laundry facility.
American Landmark will carry out approximately $3.5 million in capital improvements on the property, including upgrades to unit interiors and amenity enhancements. In-place average effective rent at Emery Bay is $1,254 per unit, and the property is 94 percent occupied.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit .
© 2018 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.
American Landmark, and its partner Electra America, continue to selectively acquire properties in excellent locations across the Southeast and Southwest. The company has completed 25 property acquisitions worth over $1.5 billion since the beginning of 2018, adding over 10,000 apartment units to its portfolio.
Charlotte’s strong long-term job and population growth has made it a focus of continued strategic investment for the company.
“Charlotte is one of the fastest-growing metro areas in the United States, and added almost 200,000 jobs over the past five years,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “We anticipate the demand for apartments to outpace supply for many years to come.”
American Landmark will invest approximately $2.3 million into interior and exterior upgrades to the property. Unit enhancements will include stainless steel appliances, new kitchen cabinets and granite countertops, tile blacksplashes and new brushed chrome faucets, smart thermostats, two-inch blinds, USB plugs, Bluetooth speaker lighting fixtures, under-the-cabinet lighting systems, and plank flooring to carpeted upper floor units. Enhancements to the overall community will include adding a pet grooming station, a package locker system, new landscaping, and enhancements to the clubhouse.
Built in 1996, The Oaks consists of one- and two-bedroom apartments in three-story garden-style buildings. Average unit size is around 833 square feet, and all units feature washer/dryer machines. Attached garages are available and fireplaces are in select units. Community amenities feature a large swimming pool with travertine deck, clubhouse with cyber café, bocce ball court, fitness center, car care center, and dog park.
Nashville, Tenn. – American Landmark
American Landmark, and its equity partner Electra America, continue to selectively acquire properties in excellent locations across the Southeast and Southwest. The company has completed 23 property acquisitions worth $1.4 billion since the beginning of 2018, adding over 10,000 apartment units to its portfolio.
The firm plans to implement approximately $3.72 million in interior and exterior capital improvements throughout the property. Unit enhancements will include new kitchen cabinet doors, tile backsplash, spray kitchen countertops, washer/dryer, electronic key fobs, and USB chargers. Community upgrades will include a package locker system and clubhouse renovations.
“Nashville is experiencing a continuous revitalization in employment, with over 1 million payrolls for the first time and the 2.7 percent unemployment rate essentially indicating full employment,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “With financial and manufacturing activities continuing to supplement the area’s labor market, the variety of jobs helped make the decision of returning to the Tennessee market an easy one.”
“Our acquisition strategy entails having a long-term vision for areas we make investments in,” added Joe Lubeck, CEO of American Landmark. “With Amazon bringing a new Center of Excellence for its Operations business that will create 5,000 jobs, Nashville is a dynamic city that promises steady growth, supplementing its multifamily market in the process.”
Verse on Bell features one-, two-, and three-bedroom units. Unit amenities include dishwasher, range, pantry, fireplace, walk-in closets, black appliances, plank flooring, and balcony/patio. Community amenities include a clubhouse with business center, 24-hour fitness center, two resort style pools, a dog park, two lighted tennis courts, and picnic/recreation areas.
Located at 455 Arbor Place, Verse on Bell is located near important transit routes and employment hubs. Located less than five minutes away from Interstate 24, Verse on Bell is about 20 minutes away from Downtown Nashville, surrounded by major employers including Vanderbilt University, Nissan Stadium, Bridgestone Arena, Saint Thomas Midtown Hospital, and Adventure Science Center, among others.