American Landmark has acquired 24 Sunbelt apartment communities with a cumulative value of $1.5 billion thus far in 2021
Tampa, Fla. (December 6, 2021) – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has added three new apartment communities totaling 991 units to its growing multifamily portfolio.
The company recently closed on the acquisition of the 503-unit Phillips at Mallard Creek and Villas at Mallard Creek in Charlotte, N.C; the 222-unit Park 156 in the Atlanta suburb of Lawrenceville, Ga; and the 266-unit Tapestry Westland Village in Jacksonville, Fla. The Charlotte properties will be run as a single property under the name “Latitude,” and Park 156 has been renamed “Artistry at Bethesda.”
“The three properties acquired at the beginning of this month reflect our focus on tertiary markets in Sunbelt states that are undergoing a huge population surge,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “While we remain focused on the value-add segment of the multifamily market, this year we’ve been increasingly active in the acquisition of newer, stabilized product where we believe there is plenty of upside still to be realized. Both the Charlotte and Jacksonville properties were built recently, for example, and met our highly selective criteria in this regard.”
Built in 2020, Tapestry at Westland is a brand new, 28-acre luxury apartment community located at 6505 Collins Road on the west side of Jacksonville, roughly 20 minutes from the downtown and the beaches. The property offers upscale studio, one-, two- and three-bedroom apartment units featuring chef-inspired kitchens with granite countertops, weathered barnwood-style plank flooring, spacious walk-in closets, full-sized washer and dryer, and bathroom vanities with double sinks. Community amenities include a saltwater pool with sun shelf, luxurious resident clubhouse, co-working space/business center, fitness center and yoga studio with on-demand virtual trainer, expansive porch overlooking a resort-style pool, on-site pet park, and outdoor pavilion and grilling stations. The property is located conveniently within one mile of I-295, close to Orange Park and the Jacksonville Naval Air Station.
Built in 2013 and 2019 respectively, Phillips at Mallard Creek and Villas at Mallard Creek both offer one-, two- and three-bedroom floor plans, and are ideally located close to UNC-Charlotte and University City with convenient access to I-85, I-485 and Hwy. 29, and the Light Rail, Blue Line. Located at 655 W. Mallard Creek Church Road, Phillips apartments feature stainless steel appliances, washer/dryer, and optional covered parking or garages. The property’s resort-style amenities include a pool, pet park, 24-hour fitness center, outdoor lounge areas and clubhouse. Villas is located at 1840 Ripple Way and features stainless steel appliances, tall ceilings and wooded views. Amenities include a 24-hour fitness center featuring Matrix equipment, a resort-style swimming pool, and access to a playground and dog park at the newest Charlotte apartments. The properties are just 15 minutes from Concord Mills, Charlotte Motor Speedway, Uptown Charlotte and 20 minutes from Charlotte Douglas International Airport.
Built in 2001 and located at 156 Bethesda Church Road, Park 156 is a gated community just 30 minutes from downtown Atlanta. It offers one-, two- and three-bedroom floor plans with modern design finishes, high vaulted ceilings, granite-inspired countertops and a private patio or balcony. Amenities include a pool, fitness center, dog park, clubhouse, and laundry facilities.
