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Built in 2019, V&Three has been renamed “8 Metro Station” to draw attention to its location along Charlotte’s light rail line
American Landmark Apartments, announces it has acquired V& Three, a 338-unit apartment community built in 2019 in the Autumnwood submarket of Charlotte, North Carolina – just five minutes from the University of North Carolina. The property has been renamed 8 Metro Station – a nod to its location along Charlotte’s Blue Rail light rail system – and is the firm’s seventh property under management in the Charlotte metro area.
So far this year, American Landmark has acquired $1.1 billion in apartment communities throughout the Sunbelt, primarily in Florida and Texas.
“The Charlotte metro area enjoyed 9 percent job growth between mid-2020 and mid-2021, and is on track to add another 48,000 jobs over the next 12 months,” said
Built in 2019, 8 Metro Station is located at 5025 Wembley Central Lane and includes one- and two-bedroom apartments along with three-bedroom, one-car garage townhomes. Apartments feature 10-foot ceilings, granite countertops, stainless steel appliances, hardwood-style flooring, in-unit washer/dryer, oversized walk-in closets and a balcony. Community amenities feature a resort-style swimming pool, outdoor grilling area, clubroom/lounge, high endurance fitness studio with Peloton bikes, cybercafé, car care station, self-service bike shop and storage, elevators, 24-hour package concierge, electric car charging stations, bark park and pet spa, and valet trash.
8 Metro Station is conveniently located just steps from the University City Boulevard Blue Line station, offering convenient access to University of North Carolina at Charlotte (20 minutes by rail), and the city’s NoDa and Uptown Districts.
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.
With this acquisition, American Landmark Apartments now owns 47 properties in Texas and 22 in the Dallas-Fort Worth area.
“Demand for new and existing housing continues to keep the Dallas-Fort Worth area at the forefront for us,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Residential construction has considerably surged since this time last year, indicating continued interest for housing throughout the metro that’s supporting stronger fundamentals and forecasting greater yields for multifamily investments in the workforce category.”
Property improvements will include new smart locks and upgrades toward common areas including the fitness center, clubhouse and landscape beautification.
Built in 2017, Mercantile River District is located at 4921 White Settlement Road. Studios, one-, two- and three-bedroom units include stainless steel appliances, USB outlets, Nest thermostats, granite countertops, private balconies and washer/dryer. Community amenities feature a business center, swimming pool, fitness center and lounge.
Situated in the Riverbend neighborhood of Fort Worth, the community is found near a variety of recreational and retail options. Fort Worth Botanic Garden and Fort Worth Museum of Science & History are less than 10 minutes away. Log Cabin Village is approximately 10 minutes away from the property, with the Fort Worth Zoo also at about the same distance.
For more information, please visit www.alapts.com.
American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired Olympus at Ross, a 368-unit multifamily community in Dallas. The property will be renamed Macallan at Ross.
The acquisition brings American Landmark’s Holdings in the Dallas-Fort Worth area up to 21 properties.
“Dallas has maintained a favorable position in multifamily circles due to its exemplary fundamentals and ability to accommodate suburban growth,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Because of this, it’s attracted plenty of capital but also become increasingly competitive. We’ve been able to navigate this with ease thanks to our deep understanding of all the submarkets, operating finesse and strong relationships in the region.”
Built in 2015, Olympus at Ross is located at 3501 Ross Avenue. One- and two-bedroom units include quartz countertops, keyless entry, stainless steel appliances, plank-style flooring and USB ports. Community amenities feature a swimming pool, outdoor grill station, fireside lounge, fitness studio, cybercafé, social lounge and bark park.
Situated in the Uptown neighborhood, the property is ideally located near downtown. Transit routes including Interstate 35, Stemmons Freeway and Woodall Rodgers Freeway are about five minutes away, providing access throughout the greater Dallas metro. The Dallas World Aquarium and Perot Museum of Nature and Science are under 10 minutes away, with Southern Methodist University approximately 15 minutes away from the property.
American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces the acquisition of Domain at Founders Parc and Alta Spring Creek, two brand new apartment communities encompassing a total of 510 units. Alta Spring Creek will be renamed The ReVe, and both properties will undergo a combined $750,000 in capital improvements throughout the interiors and exteriors.
The acquisitions expand American Landmark’s 45 properties throughout Texas and 20 properties in the Dallas-Fort Worth area.
“As in-migration and job numbers bolster Dallas-Fort Worth fundamentals, the acquisition of these two new properties will allow for a compelling hold period with upside potential as demand continues to support the region’s multifamily market,” said Christine DeFilippis, Chief Investment Officer of American Landmark Apartments. “The confidence that others are bringing to Dallas will further the demand for multifamily, as upcoming projects like a new Texas Instruments plant and the redevelopment of Collin Creek Mall bring jobs and economic expansion to the surrounding area.”
Built in 2020, Domain at Founders Parc is located at 880 W Euless Park. One-, two-, and three-bedroom units include stainless steel appliances, large closets, contemporary cabinets and fixtures, and wood-style flooring. Community amenities feature a swimming pool and clubhouse with Wi-Fi, a business center, clubhouse, elevators, and a pet play area.
Built in 2020, Alta Spring Creek is situated at 6310 Naaman Forest Boulevard. Studios, one-, two-, and three-bedroom units include storage units, walk-in closets, USB charging ports, Wi-Fi, and washer/dryer. Community amenities feature door-to-door package delivery, outdoor entertainment space with a grilling station, a 24/7 athletic studio, private meeting and conference spaces, and a fire pit area.
With this acquisition, American Landmark now owns and manages four multifamily properties in the Palmetto State, all within the Charleston area.
“Charleston’s consistent population growth and young, diverse workforce have established strong fundamentals that provide plenty of runway for growth in the region’s multifamily sector,” said Christine DeFilippis, Chief Investment Officer. “The addition of this class A property highlights the demand that exists for high quality, modern housing in a city with an array of well-paying jobs in the aerospace, automotive, aviation, bioscience, and defense industries, to name a few.”
Property improvements will include master closet organizers in master bedrooms, smart locks to all units and common areas, luxury faucets & plumbing fixtures, and luxury lighting fixtures. Community upgrades will feature a package locker system, landscape beautification, summer kitchen, outdoor fitness equipment, and clubhouse enhancements.
Built in 2020, The Mason is located at 1110 Mason Pond Place. Studios, one-, two- and three-bedroom units feature storage units, granite countertops, stainless steel appliances, island kitchens, walk-in closets and a balcony/patio. Community amenities include a business center, clubhouse, playground, swimming pool, hiking trails, and Wi-Fi.
Situated in Charleston County, The Mason is located near multiple transit routes and employers. Interstate 26 is about five minutes away, providing direct access throughout the greater Charleston area. Charleston Southern University is about 10 minutes away, with additional employers like Bosch only 20 minutes away and Charleston International Airport and Boeing approximately 25 minutes away.