Lake Park, Fla. – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, and its equity affiliate Electra America, announced today the final closing of its 2018 Multifamily Fund II, which raised $462 million from institutional and private investors. The firm also officially announced the launch of its 2019 Multifamily Fund III, with a target raise of $500 million for the acquisition of value-add multifamily assets throughout the Southeastern U.S.

American Landmark’s portfolio of 28,000 apartment units is valued at roughly $4 billion.

To date, American Landmark has raised over $670 million in two funds from domestic and international investors, which it has deployed in the acquisition of thousands of apartment units throughout Georgia, Florida, North Carolina, South Carolina, Tennessee and Texas. Both funds are outperforming original expectations and distributing quarterly, noted American Landmark/Electra America CEO Joe Lubeck.

“We achieved our goal of $1.5 billion in acquisitions in 2018, capping off a successful year that exemplified our strength at identifying off-market opportunities, executing quickly and generating competitive, risk-adjusted returns for investors,” said Lubeck. “We will stay the course in 2019 and continue to focus on Sun Belt cities where the demand for workforce apartments – particularly Class A minus and Class B product – is strong, and where rents are growing faster than the national average. We are half way to meeting our goal of $2 billion in acquisitions by the end of 2019.”

American Landmark’s Multifamily Fund II comprises 37 multifamily assets with 12,600 units in the Southeastern United States, and $392 million of the $460 million raised has been invested. The fund will continue to purchase additional assets that meet American Landmark’s stringent criteria until all the capital raised has been invested.

Investors in Electra America’s first two funds include private investors, as well as institutional investors such as Psagot Investment House, Bank Leumi, the pension funds of Bank Leumi employees, IBI, the Gilad Pension Fund, universities, insurance companies and other pension funds. Electra’s principals are also substantial and material investors in each of the funds.

In the past two years, Electra Real Estate has sold 29 multifamily assets in the US (about 7,000 units) for $950 million, achieving an IRR of 26.5%.

An expert in value-add and distressed real estate repositioning, Lubeck and his partners have bought and sold over 100,000 apartment units, valued at over $8 billion, since 1996.

Tampa, Fla. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, and JV partner, RSE Capital Partners, one of the most active multifamily investors in the country, have acquired a five-property multifamily portfolio with assets in Texas and Tennessee. The 1,848-unit portfolio includes apartment communities in the Dallas-Fort Worth market and the Nashville suburb of Hendersonville, Tennessee. American Landmark acquired the portfolio for $246.77 million in a privately negotiated off-market transaction.

The acquisitions raise American Landmark’s portfolio to approximately 28,000 units throughout the Southeast and Texas, with the firm already halfway towards its goal of completing $2 billion in acquisitions by the end of this year. Recently, American Landmark and RSE acquired Eastport Apartments, a 440-unit apartment community in Jacksonville, FL. This portfolio acquisition marks the JV’s sixteenth investment in over $800M of multifamily assets.

“The Southeast U.S. and Texas continue to show signs of strong population and labor growth, a deciding factor taken into account when acquiring these properties,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The Dallas-Fort Worth market ranked second in the country in jobs added and Nashville is illustrating one of the lowest unemployment rates in the country, a trend that we look for in the markets where we invest.”

American Landmark and RSE plan to implement $17.9 million in capital improvements for community and apartment amenities. Improvements include adding stainless steel appliances, new cabinets, new lighting and plumbing fixtures, and USB plugs. Amenity improvements include installation of electronic locks, package locker systems, new pool furniture, as well as clubhouse and fitness center renovations.

The properties in the portfolio include:

·         Meadows of Bedford, a 490-unit asset to be renamed The Logan. Located at 1400 Sierra Springs Drive in Bedford, Texas, the community was built in 1985 and was 95 percent occupied at the time of sale.

·         Remington Hill, a 440-unit apartment community to be renamed Laurel Heights at Cityview. Situated at 5701 Overton Ridge Boulevard in Fort Worth, Texas, the property was built in 1986 and was 96 percent occupied at the time of sale.

·         Rock Ridge Apartments, a 226-unit multifamily community to be renamed Ranch Three O Five. Located at 305 Ranch Drive in Arlington, Texas, the asset was built in 2003 and was 96 percent occupied at the time of sale.

·         Summer Villas Apartments, a 460-unit multifamily community in Dallas to be renamed The Regent. Situated at 17717 Preston Road, the asset was built in 1984 and was 95 percent occupied at the time of sale.

·         Windsor Park Apartments, a 232-unit multifamily community in Hendersonville, Tennessee to be renamed The Hamilton. Located just outside of Nashville at 100 Windsor Park Lane, the property was built in 1985 and was 91 percent occupied at the time of sale.

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

Jacksonville, Fla. – American Landmark Apartments (“American Landmark”), one of the fastest-growing multifamily owner-operators in the country, and RSE Capital Partners (“RSE”) have acquired Eastport Apartments, a 440-unit multifamily asset in Jacksonville. The property will receive $4.9 million in capital improvements and be renamed Mezza. The property was 95 percent occupied at the time of sale.

The acquisition of Eastport Apartments marks the eleventh investment between the JV partners in over $550M of multifamily in the past two years and raises American Landmark’s Florida portfolio to 23 properties, with eight properties in Jacksonville. American Landmark currently owns and manages approximately 25,000 apartments throughout the Southeast and Texas and is adding another $2 billion in assets to its multifamily portfolio this year.

Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia’s Boca Raton office, along with Senior Managing Director Robert Falese and Senior Director Matthew Cullison of Berkadia’s Philadelphia office, arranged a Freddie Mac Green Up loan.

“Jacksonville’s significant population growth was a motivating factor in the acquisition of this asset,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The metro area’s 2 percent rise in population, coupled with a growing business sector, continues to make Jacksonville one of the more compelling markets to invest in, which is a trend we already identified in previous acquisitions.”

RSE and American Landmark plan to implement a variety of capital improvements throughout the property, including bringing all units to the same standard with subway tile backsplash, new cabinets, lower kitchen bar tops, granite countertops with new sinks, stainless steel appliances, updated plumbing and lighting, USB plugs, and framed mirrors. Common area upgrades will include pool repairs, a package locker system, new pool furniture, renovated clubhouse and fitness center, upgraded landscaping, and new signage.

Built in 2008, Eastport Apartments is located at 11701 Palm Lake Drive. One-, two- and three-bedroom units include dishwasher, disposal, range, walk-in closets and crown molding. Community amenities include a fitness center, spa, swimming pool, bike storage, tennis court, courtyard, grill and picnic area.

For more information, please visit www.alapts.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 25,000 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.

About RSE Capital Partners

RSE is a principal investor that provides flexible capital solutions for the top real estate sponsors.  RSE is currently invested in $3.5 billion of institutional multifamily assets and deployed over $320 million in 2018.  For more information, please visit: rsecap.com.

Boca Raton, Fla. – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, has acquired Alister Boca Raton, a 448-unit multifamily community in Boca Raton, Florida. Purchased from a joint venture between Mill Creek Residential and AIG, the property will receive $6.2 million worth of capital improvements and be renamed Cielo Boca. The property was 96 percent occupied at the time of sale.

The acquisition raises American Landmark’s Florida portfolio to 22 properties, with seven properties throughout South Florida. The company currently owns and manages approximately 26,000 apartments throughout the Southeast and Texas, and is adding another $2 billion in assets to its multifamily portfolio this year.

“This is a great asset in a thriving multifamily market,” said Christine DeFilippis, Chief Investment Officer at American Landmark. “Boca Raton’s quality of life and high-paying jobs at corporate headquarters have attracted many out-of-state residents. High-quality apartment communities like this one are in high demand. South Florida alone had the seventh-highest total employment growth year over year, which makes the region much more compelling for residents and investors alike.”

American Landmark plans to implement a variety of capital improvements throughout the property, including glass backsplash, new cabinets, updated lighting and USB ports. Community area upgrades include improved landscaping, parking lot repairs and new pool furniture.

Located at 10235 Boca Entrada Boulevard, Cielo Boca was built between 1986 and 1988 and offers one-, two- and three-bedroom units. Unit amenities include walk-in closets, wood vinyl flooring, balcony, and range. Community amenities include a car care station, swimming pool, playground and tennis court

Situated across the Sandalfoot Cove neighborhood of Boca Raton, the community is conveniently located near important transit corridors and employment centers. US-441 is less than five minutes away and the Florida Turnpike is less than 10 minutes away, offering convenient access to West Palm Beach and Miami. Florida Atlantic University is under 20 minutes away.

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

Tampa, Fla. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired a six-property multifamily portfolio containing assets in all of Texas’ major metro areas. The portfolio includes multifamily assets in Houston, San Antonio, Austin and Irving, just northwest of Dallas, totaling 2,284 apartment units.

The acquisitions bring American Landmark’s Texas portfolio up to 33 properties. The company currently owns and manages approximately 25,000 apartments throughout the Southeast and Texas, and plans to add another $2 billion in properties to its growing multifamily portfolio this year.

“Texas is a national leader in both employment and population growth, continuously attracting new residents with its low cost of living and major employers who seek a skilled labor force,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “We recognized this at the start of the trend, and we look forward to continue selectively acquiring assets in this growing market.”

American Landmark plans to implement $14.7 million in capital improvements for community and apartment amenities. Improvements include granite countertops, package locker systems, stainless steel appliances, clubhouse enhancements and pet grooming stations.

The properties in the portfolio include:

·        Hyde Park at Lake Wyndemere (Houston), to be renamed Artisan at Lake Wyndemere, is located at 2109 Sawdust Road in the Woodlands neighborhood. Built in 2000, the garden-style community includes 320 units and was 96.8 percent occupied at the time of purchase.

·         Hyde Park at Enclave (Houston), to be renamed Hayden at Enclave, is located at 12951 Briar Forest Drive. Built in 1999, the newly renovated community includes 476 units and was 95.1 percent occupied at the time of closing.

·         Manor at Castle Hills (San Antonio), to be renamed Alon at Castle Hills, is situated at 1835 Lockhill Selma Road. Built in 2000, the garden-style complex features 306 units and was 97.7 percent occupied at the time of purchase.

·         Hyde Park at Ribelin Ranch (Austin), to be renamed the Asten at Ribelin Ranch, is located at 9900 McNeil Drive. The garden-style community includes 350 units and was 96 percent occupied at the time of purchase.

·         Hyde Park at Wells Branch (Austin), to be renamed Beck at Wells Branch, is located at 2801 Wells Branch Parkway. Built in 1999, the community features 576 units and was 93 percent occupied at the time of closing.

·         Lakepointe at Las Colinas (Irving), to be renamed The Blvd, is located at 5353 W Las Colina Boulevard. Built in 2012, the luxury apartment community includes 256 units and was 96.8 percent occupied at the time of closing.

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

HOUSTON – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired Haven at Lakes of 610 Apartments, a 282-unit multifamily property in Houston. The new Class A apartment community, purchased from a joint venture between Guefen Development and The Rainier Companies, will receive a $1.45 million capital investment and will be renamed Aspire at 610.

This is American Landmark’s seventh property in the Houston area, and its first Houston-area acquisition in 2019. The company currently owns approximately 25,000 apartments throughout the Southeast and Texas, and plans to add another $2 billion in properties to its growing multifamily portfolio this year.

“Houston led the nation in job growth in 2018, and is poised to do the same this year, so we are very confident in the long-term demand for workforce housing in the region, which has seen its economy diversify significantly,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “With its exceptional location and amenities, Aspire at 610 fits our investment strategy perfectly.”

American Landmark’s improvements will add faux-wood plank flooring, USB plugs, and smart locks in all units. Amenity improvements will include the addition of a dog-washing station, fire pits, package locker system, clubhouse and landscaping enhancements.

Built in 2018, Aspire at 610 is a four-story community located at 8900 Lakes at 610 Drive. One- and two-bedroom units feature washer/dryer machines, granite countertops, black appliances, plank flooring in first-floor units, and kitchen islands. Amenities include a clubhouse, large pool with sundeck, and business center.

Aspire at 610 is located in the South Main area of Houston, just off I-610 and conveniently located near NRG Stadium.