American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, has acquired Alta Brighton Park, a 329-unit community in the Nexton community of Summerville, South Carolina, just north of Charleston. The project will undergo an $800,000 capital improvements program and will be renamed Elevate at Brighton Park.

The acquisition marks the second property in American Landmark’s South Carolina portfolio, with the firm growing its presence in the Charleston area. The company currently owns and manages approximately 28,000 apartments throughout the Southeast and Texas, and is continuously closer to its goal of adding $2 billion in assets to its multifamily portfolio this year.

“The Summerville-Charleston MSA has shown favorable fundamentals conducive to future growth in demand for housing, particularly with labor expansion in the hospitality and tourism sector as well as the Mercedes-Benz Sprinter van plant that opened last year in North Charleston, which is expected to reach 1,300 workers,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “With an unemployment rate of 2.5 percent that’s well below the 3.7 percent national average, Charleston remains just as important to our strategy ever since our initial entry to the area one year ago.”

The Charleston-based NKF Multifamily Capital Markets Team including Senior Managing Director Alex Okulski; Vice Chairmen Sean Wood, John Heimburger and Dean Smith; and Managing Directors John Munroe and Jason Kon brokered the transaction. NKF Executive Managing Directors Bill Weber and Matt Mense, along with Senior Managing Director Ari Schwartzbard and Managing Director Henry Stimler, arranged the financing on behalf of American Landmark.

American Landmark plans to implement a variety of capital improvements throughout the property, including Wi-Fi thermostats, electronic smart locks, master closet organizers and frame bath mirrors.  Community upgrades will include added pool furniture, dog park agility equipment and landscaping beautification.

Built in 2019, Alta Brighton Park is located at 115 Great Lawn Drive. One-, two- and three-bedroom units include custom cabinetry, wood-style flooring, private balcony or patio, stainless steel energy efficient appliances and GigaFi – South Carolina’s first gigabit internet service. Community amenities include a saltwater swimming pool, outdoor lounge area with grills, 24-hour fitness studio and private resident clubhouse.

Alta Brighton Park is found within the burgeoning master-planned community of Nexton, a 5,000-acre development positioned to become the region’s new residential and employment center. Spanning the size of the Charleston peninsula, recent investments including a car manufacturing operation by Volvo as well as office, housing and retail sites that are expected to raise the area’s population by approximately 16,000 to 20,000 new residents.

HOUSTON, TX - American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, has acquired Elan 99 West, a 360-unit multifamily community in the suburban Houston community of Katy, Texas. The property will undergo a $1.35 million capital improvements project program and be renamed Elite 99 West.

The acquisition raises American Landmark’s portfolio of properties in Texas to 36, with 12 properties in Houston. The company currently owns and manages approximately 28,000 apartments throughout the Southeast and Texas, and is past its halfway goal of adding $2 billion in assets to its multifamily portfolio this year.

“Houston remains an exceptional market to invest in, with July data from the U.S. Bureau of Labor Statistics illustrating its lead in year-over-year job growth nationwide,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Among the 12 largest MSAs in the country, Houston reported an annual job growth rate of 3 percent, double the national average of 1.5 percent over the same time period. In addition to this job growth, the Katy Independent School District (ISD) has grown 19 percent over the past five years, ranking No.1 out of the largest Texas districts and demonstrating a flight to quality including affordability, good schools, and job access.”

Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia’s Boca Raton office, alongside Senior Managing Director Robert Falese and Senior Director Matthew Cullison of Berkadia’s Philadelphia office, arranged the financing on behalf of American Landmark.

American Landmark plans to implement a variety of capital improvements throughout the property, including smart locks, kitchen undermount lighting, exterior ceiling fans and upgrades to site amenities, as well as landscape beautification.

Built in 2016, Elan 99 West is located at 23400 Kingsland Boulevard. One-, two- and three-bedroom units include quartz countertops, full-size washer/dryer, garden tubs with separate showers, private patios and yards, walk-in closets and wood flooring. Community amenities include an infinity pool with lounge seating, lake with jogging path, fitness center, aqua lounge massage room, outdoor kitchen and lounge and clubhouse.

Located in Katy within the Houston MSA, Elan 99 West is situated about five minutes away from Katy Mills Mall, offering a variety of dining, entertainment and retail options. Grand Parkway is less than five minutes from the asset, providing direct access to Interstate 10 and the greater Houston area.

For more information, please visit www.alapts.com.

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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 28,000 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.

Tampa, Fla. - American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, has been accepted into Forbes Real Estate Council, an invitation-only community for executives in the real estate industry.

Joe Lubeck, CEO, was vetted and selected by a review committee based on the depth and diversity of his commercial real estate experience. Criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honors.

“We are honored to welcome Joe Lubeck into the community,” said Scott Gerber, founder of Forbes Councils, the collective that includes Forbes Real Estate Business Council. “Our mission with Forbes Councils is to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world.”

As an accepted member of the Council, Lubeck has access to a variety of exclusive opportunities designed to help him reach peak professional influence. He will connect and collaborate with other respected local leaders in a private forum. Lubeck will also be invited to work with a professional editorial team to share his expert insights in original business articles on Forbes.com, and to contribute to published Q&A panels alongside other experts.

Finally, Lubeck will benefit from exclusive access to vetted business service partners, membership-branded marketing collateral, and the high-touch support of the Forbes Councils member concierge team.

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ABOUT FORBES COUNCILS
Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive. For more information about Forbes Real Estate Business Council, visit forbesrealestatecouncil.com. To learn more about Forbes Councils, visit forbescouncils.com.

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 28,000 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.

Frisco, Texas - American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, has acquired Four Corners Apartments, a 390-unit garden style asset in Frisco, Texas. Completed in 2019, the community is considered a “best in class”” AAA quality asset.

The acquisition raises American Landmark’s portfolio count in Texas to 36 properties, with 17 properties in the Dallas metro area. The firm now owns and manages almost 29,000 units throughout the Southeast and Texas and is over half way to its goal of adding  $2 billion in assets to its multifamily portfolio this year.

“The Dallas MSA continues showing signs of strong demand for the foreseeable future, most notably with its addition of more than 100,000 jobs over the past year and almost 75,000 new residents during that same period,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “It’s a market we’ve come to know well that offers compelling opportunities that fit within our current investment strategy.”

Located at 1690 FM 423 Road, Four Corners is situated in northern Dallas. One-, two- and three-bedroom units include stainless steel appliances, wood-style flooring, dishwasher, disposal, granite countertops, French doors and a kitchen island. Community amenities include a resort-style swimming pool, resident clubhouse, business center with internet, dog park, and onsite management.

Four Corners is found near important transit routes and employers. Dallas Parkway is 10 minutes away, offering direct access into the city’s central business district and its surrounding neighborhoods. Toyota Stadium – which hosts the FC Dallas soccer team – is less than 10 minutes away, and the University of Texas at Dallas is 25 minutes away.

For more information, please visit www.alapts.com.

American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, and RSE Capital Partners (RSE), one of the most active multifamily investors in the country, have acquired a 360-unit apartment community in one of the most desirable parts of Tampa, Florida. Westly Shores Apartments, formerly Price Waterhouse Cooper’s (PwC) corporate campus and now market-rate apartments, was sold by an owner of multifamily assets across the nation.

American Landmark intends to inject $1 million into renovations and improvements, and will rename the property “Amira at Westly.”

The property is located five minutes from Tampa International Airport and directly adjacent to the Westshore Business District, Tampa Bay's largest office community.

The acquisition of Westly Shores brings American Landmark’s Florida portfolio to 24 properties, with five properties in the Tampa Bay region. American Landmark currently owns and manages approximately 28,000 apartments throughout the Southeast and Texas and is adding another $2 billion in assets to its multifamily portfolio this year.

Additionally, this acquisition marks the seventeenth investment between the joint venture partners in over $875 million of multifamily assets. Last month, American Landmark and RSE acquired Mezza Apartments, a 440-unit apartment community in Jacksonville, FL as well as a five-asset, 1,848-unit portfolio in the Dallas-Fort Worth metro area and the Nashville suburb of Hendersonville, Tennessee.

Newmark Knight Frank Multifamily Vice Chairman Patrick Dufour and Director Ryan Crowley represented the seller, with Executive Managing Director Bill Weber and Managing Director Matt Mense providing a Freddie Mac CME 10-year, fixed rate loan.

“Tampa Bay is a perennial market favorite for its consistent job growth and population growth,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The Bay area’s 27,500 new private-sector jobs – the third-highest number of jobs among all Florida metro areas created in the past year – illustrates the positive momentum this MSA continues to enjoy and another reason for investing in this property.”

Built in 1999, Westly Shores is located at 6105 Paddock Glen Drive and was formerly PwC’s corporate campus. The company’s conference center was demolished, leaving room for American Landmark to build additional units and amenities. Over a third of the property’s one- and two-bedroom units have original interiors, and are primed for upgrades. American Landmark will also add a $1 million newly revamped and renovated clubhouse.

Westly Shores is well located close to major demand drivers, and is directly adjacent to the Westshore Business District, home to over 4,000 businesses, 97,000 employees, and surrounded by some of Tampa’s top shopping destinations.  Tampa International Airport is less than five minutes from the property; downtown Tampa is 12 minutes away. The property offers convenient access to Hillsborough Avenue and the I-275 and SR-60 intersection.

For more information, please visit www.alapts.com.

American Landmark, one of the fastest-growing multifamily owner-operators in the country, is launching a new resident-centered customer service program at each of its 81 communities throughout the Southeast.  “Landmark 360” offers residents the following time- and money-saving guarantees:

·         Move-in Satisfaction Promise – American Landmark rolls out the red carpet for new residents, including a reserved parking space for moving vehicles, a house-warming gift, and a 100% satisfaction guarantee in the initial two weeks. If residents aren’t happy, American Landmark will refund security and pet deposits (minus any damages), and waive all fees associated with terminating the lease.

·         48-Hour Completion Promise – American Landmark prioritizes maintenance issues, and guarantees that all work orders will be fulfilled within 48 hours of filing (for requests submitted Monday through Friday). And to make good on that promise – residents will receive a credit for one day of rent each day beyond the 48-hour window that their maintenance issue remains unresolved.

·         Hassle-Free Relocation Promise – Life can throw a curveball now and then – making it necessary to move for new job or another change in circumstances. Whatever the reason, American Landmark’s team can help relocate you to another American Landmark property, with no fees or penalty for early termination of the lease (upon 60 days’ notice). 

Landmark360, which symbolizes excellence in every direction, is one of the many ways that American Landmark Apartments is responding to the changing expectations of today’s renters and their desire for more “white glove” experiences at today’s apartment communities.

“A beautiful, well-located apartment property is great, but that alone is not enough to attract and retain residents in today’s competitive landscape,” explained Joe Lubeck, CEO of American Landmark Apartments. “Lifestyle, comfort and satisfaction are equally important to today’s renters, so multifamily operators need to differentiate themselves by the level of customer service they provide and the quality of amenities they can offer. Landmark360 is our way of making life easier for our residents so that they can have more time to do the things they enjoy most, and be assured of a worry-free residence.”

All American Landmark Apartments offer residents a number of amenities and services aimed at enhancing comfort and convenience. These include:

·         Valet Trash Service

·         Package delivery locker systems

·         Complimentary one-year subscription to Shipt, a leading online grocery marketplace

·         Free Wi-Fi in clubhouse, pool and common areas and discounted high-speed Wi-Fi throughout

·         24-hour fitness center with “Fitness on Demand” video stations

·         Dog parks and doggie wash stations

·         Smart lock systems

American Landmark owns and operates 28,000 apartments in Florida, Georgia, North Carolina, South Carolina, Tennessee and Texas; Landmark360 perks are available at all properties.