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Charlotte, N.C. –
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.
Plantation and Royal Palm Beach, Fla. – ,
he company has
“We were attracted to the extraordinary location of these two assets, and with our improvements, they will rise to ‘best in class’ properties in their respective neighborhoods,” said Christine DeFilippis, Chief Investment Officer at American Landmark.
Plano, Texas – American Landmark,
he company has
American Landmark plans to implement an array of improvements throughout the property including granite countertops, tile backsplash, new cabinet faces and hardware, two-inch blinds, kitchen faucet upgrades, enhanced and expanded gym, package locker system, washer/dryer in all units, and keyless locks.
“The Dallas metro area economy continues to expand at a remarkable rate, with over 116,000 jobs added since August 2017,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Demand easily exceeds new supply coming online thanks to newly formed households and great job numbers.”
The Dallas-Plano-Irving metro area added 91,000 new jobs between August of 2017 and August of 2018, according to the Texas Bureau of Labor Statistics – a 3.6 percent increase year over year.
Built in 1999, Legends at Ridgeview Ranch is located at 2300 Kathryn Lane. One-, two-, and three-bedroom units offer ceiling fans, alarm, double vanities, fireplace, framed mirrors, dishwasher, stainless steel appliances, island kitchen, and range. Community amenities include two resort-style swimming pools with hot tubs and grilling stations, a 24-hour fitness center, yoga studio, basketball court, clubhouse, business center and dog park.
Situated in north Plano, the property is found near important transit routes and employment opportunities. Sam Rayburn Tollway is five minutes away, offering direct access to Downtown Dallas. The University of Texas at Dallas is approximately 20 minutes away, and South Central Expressway is about 10 minutes away, providing an additional route to the city of Garland.
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.