American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, is pleased to announce the final closing of American Landmark Fund III and its affiliated entities (“Fund III”) on July 13, 2021. Launched on December 1, 2019, Fund III exceeded its initial hard cap and closed on $918 million in equity commitments from third-party investors.
Fund III is American Landmark’s third closed-end real estate fund focused on the acquisition and management of value-added multifamily properties located in the Sunbelt region. It generated strong demand from existing and new investors and received commitments from domestic and foreign institutions, including sovereign wealth funds, pension funds and endowments.
The capital raised will allow the company to deploy approximately $2.6 billion towards the acquisition and repositioning of multifamily properties.
“Our ability to raise almost $1 billion in capital over the course of this fundraise, amidst the economic uncertainty and market volatility brought on by the pandemic, underscores our global investors’ confidence in American Landmark’s investment strategy and the U.S. multifamily sector at large,” said Joe Lubeck, CEO of American Landmark Apartments.
David Tepperman, Global Head of Capital Markets for American Landmark Apartments, added, “We are gratified with the high quality of global institutional investors that have chosen to commit to this fund and the overwhelming interest in the value-added multifamily sector that these investors expressed.”
American Landmark is both the fund sponsor and a hands-on operator with a portfolio of 34,000 apartment units in Sunbelt markets.