Charlotte, N.C. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired an ownership stake in Highlands at Alexander Pointe, a 309-unit apartment community in northeast Charlotte. The asset marks the firm’s eighth acquisition in Charlotte and their 12^th acquisition in North Carolina.

American Landmark continues to selectively acquire properties in excellent locations across the Southeast and Southwest. The company has completed 28 property acquisitions worth over $1.5 billion since the beginning of 2018.

The River City Condo Association agreed to a bulk sale of all 449 residential units, making River City the largest condominium deconversion in Chicago history. A newly formed joint venture among The Wolcott Group, Marc Realty, Ruttenberg Gordon Investments and funds managed by Elliott Management Corporation purchased River City. The new owner plans to transform the building with a full redesign and renovation of the lobby, common areas, residential units, and the retail components of the property.

Kiser Group, Chicago’s leading multifamily brokerage firm, recently brokered 1140 N. LaSalle Dr. for $38 million. The Flats on LaSalle Condominium Association agreed to a bulk sale of all 250 units. The buyer, ESG Kullen, acquired the property as a deconversion and will turn all of the units to apartments. The deal was brokered by Kiser Group’s Lee Kiser, Michael D’Agostino and Jake Parker. Kiser Group also introduced equity broker Alpha Capital to ESG Kullen, resulting in Harrison Street Capital becoming a partner in the deal.

Katy, Texas - Berkadia announces it has secured $22.264 million in acquisition financing for Echo at Katy Ranch, a 260-unit garden-style Class A asset located in Katy. Senior Managing Director Tucker Knight and Director Nicholas Murphy of Berkadia’s Houston office arranged the loan on behalf of Olympus Property, a Fort Worth based full service multifamily investment and property management organization who owns and operates 17,000 units across 10 states.

December 20, 2018

TAMPA, FL (December 20, 2018) — Franklin Street has completed the sale of The Avenue Apartments in the Temple Terrace submarket of Tampa, for $23.3 million. The 216-unit multifamily property is located at 9101 Avenue Clue Drive in Hillsborough County. The Avenue Apartments, LLC, a partnership led by a private local investor with Canadian equity partners, acquired the property from locally-based Bayside Ventures V, LLC. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street Real Estate Services in Tampa represented both parties in the transaction. Franklin Street’s Lonnie Kitchen provided insurance services for the asset.

Thorofare Capital has provided a $15 million floating-rate first mortgage to Highpoint Property Group (Highpoint) to acquire, renovate and stabilize a mixed-use multifamily property in Brooklyn, NY.

TruAmerica Multifamily, in joint venture with an institutional capital partner, has acquired a two-property, 472-unit apartment portfolio in Tempe, AZ for $67.3 million increasing its local portfolio to more than 2,400 units. 

Charlotte, N.C. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired Madison Square at Northlake, a 287-unit garden-style asset in Charlotte, North Carolina. Located in the Wedgewood neighborhood about 15 minutes north of downtown Charlotte, the Class A asset marks the firm’s seventh acquisition in the area. Madison Square at Northlake was 97 percent occupied at the time of acquisition.