Plantation and Royal Palm Beach, Fla. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired two garden-style apartment communities in South Florida. The sellers were represented by ARA Newmark in a privately negotiated transaction. New ownership intends to conduct a multimillion dollar renovation program on both properties.

The communities acquired are Siena Apartments, a 292-unit apartment community located at 8080 NW 10^th Court in Plantation; and Hidden Harbor Apartments, a 200-unit community located at 222 Kingfisher Way in Royal Palm Beach.

With these acquisitions, American Landmark now owns and manages six apartment communities in South Florida and over 24,000 units across the Southeast U.S or “Sun Belt” region.

American Landmark, and its equity partner Electra America, continue to selectively acquire properties in excellent locations across the Southeast and Southwest. The company has completed 22 property acquisitions worth $1.4 billion since the beginning of 2018, adding 9,242 apartment units to its portfolio.

“We were attracted to the extraordinary location of these two assets, and with our improvements, they will rise to ‘best in class’ properties in their respective neighborhoods,” said Christine DeFilippis, Chief Investment Officer at American Landmark.

Siena Apartments is a garden-style apartment community located close to the city of Fort Lauderdale, and within miles of large national employers including Magic Leap, Westside Regional Hospital, Plantation General Hospital and Nova Southwestern University. The property has 292 one- and two-bedroom units overlooking a scenic lake. Amenities include a resort-style swimming pool, fitness center, car care center, handball court and playground.

American Landmark will invest $3.54 million in upgrades to the interior units, including installation of granite countertops and stainless steel appliances, and will renovate upgrade common areas. They will add a new small dog park, barbecue grill station and package locker system. Average in-place effective rent is $1,517/unit. The property is 97 percent occupied.

Hidden Harbor is situated between the affluent towns of Wellington and West Palm Beach, and comprises 200 two-bedroom, two-bath units. Community amenities include a fitness center, dog park, playground, resort-style pool, waterfront grills and cooking stations, car wash stations, a lighted tennis court and a fishing pier.

American Landmark will invest $2.7 million in upgrades to units, including granite countertops in kitchens and bathrooms, new cabinets and hardware, and stainless steel appliances. The company will also expand the existing clubhouse, renovate the fitness center and add valet trash and a package locker system. The property is 94 percent occupied with an average in-place effective rent of $1,425/unit. 

Plano, Texas – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired Legends at Ridgeview Ranch, a 480-unit garden style asset located in Plano, Texas. The property will undergo approximately $3.675 million in capital improvements and is the firm’s third acquisition in the Dallas metro area. The community was over 96 percent occupied at the time of sale.

American Landmark, and its equity partner Electra America, continue to selectively acquire properties in excellent locations across the Southeast and Southwest. The company has completed 22 property acquisitions worth $1.4 billion since the beginning of 2018, adding 9,242 apartment units to its portfolio.

American Landmark plans to implement an array of improvements throughout the property including granite countertops, tile backsplash, new cabinet faces and hardware, two-inch blinds, kitchen faucet upgrades, enhanced and expanded gym, package locker system, washer/dryer in all units, and keyless locks.

“The Dallas metro area economy continues to expand at a remarkable rate, with over 116,000 jobs added since August 2017,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Demand easily exceeds new supply coming online thanks to newly formed households and great job numbers.”

The Dallas-Plano-Irving metro area added 91,000 new jobs between August of 2017 and August of 2018, according to the Texas Bureau of Labor Statistics – a 3.6 percent increase year over year.

Built in 1999, Legends at Ridgeview Ranch is located at 2300 Kathryn Lane. One-, two-, and three-bedroom units offer ceiling fans, alarm, double vanities, fireplace, framed mirrors, dishwasher, stainless steel appliances, island kitchen, and range. Community amenities include two resort-style swimming pools with hot tubs and grilling stations, a 24-hour fitness center, yoga studio, basketball court, clubhouse, business center and dog park.

Situated in north Plano, the property is found near important transit routes and employment opportunities. Sam Rayburn Tollway is five minutes away, offering direct access to Downtown Dallas. The University of Texas at Dallas is approximately 20 minutes away, and South Central Expressway is about 10 minutes away, providing an additional route to the city of Garland.

###

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 23,000 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.

Tampa, Fla. - American Landmark, one of the fastest-growing multifamily owner-operators in the country, has appointed Bulent Yazar as Managing Director, Underwriting and Robert Cole Malizia as Director, Underwriting. Yazar and Malizia will be based out of Lake Park and will report to Christine DeFilippis, Chief Investment Officer of American Landmark.

As Managing Director of Underwriting, Yazar will be responsible for completing all acquisition underwriting, analysis and committee approvals. He will also assist with debt and equity placement, coordinate and prepare transition with operations, and close acquisitions with legal, sellers, partners and debt.

As Director of Underwriting, Malizia will be responsible for analyzing acquisition opportunities, completing investment diligence, coordinating buyer and seller transition and takeover, and assisting with debt and equity placement.

“Cole and Bulent provide extensive experience in financial analyses and market knowledge of the southeast, supplementing American Landmark’s progression and strategy,” said Joe Lubeck, CEO of American Landmark. “We look forward to their contributions as we carry out additional acquisitions throughout the region this year.”

Previous to his new role, Yazar served as Senior Acquisitions Analyst for American Landmark, where he conducted complex research and analysis activities on potential transactions for multifamily properties.

Yazar received his Bachelor of Business in Finance and Master in Business Administration from Western Illinois University.

Prior to joining American Landmark, Malizia served as an Investment Sales Associate for Franklin Street Real Estate. In this role, he assisted the transaction process in multimillion-dollar multifamily closings, prepared pitch materials for prospective listings and offering materials, and actively managed due diligence and the closing process during property transactions.

Previous to his role at Franklin Street Real Estate, Malizia worked as an Analyst for Fleetcor Technologies, Inc., a publicly traded global provider of specialized payment products and services.

Malizia received his Bachelor of Science in Accounting and Business Administration from Washington and Lee University. He is a member of the Real Estate Investment Council (REIC) and the Society of Real Estate Professionals (SOREP).

HOUSTON (Sept. 20, 2018) – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired Hilltops Apartments, a new 208-unit multifamily asset located approximately 40 minutes north of downtown Houston in the city of Conroe, Texas. The company will invest approximately $800,000 in capital improvements.

American Landmark, and its debt and equity partner Electra America, are selectively and decisively acquiring value-add properties in excellent locations across the Southeast and Southwest. The firm, which has already acquired 19 properties this year worth over $800 million, expects to complete a total of $1.3 billion in multifamily acquisitions by the close of 2018. This is their ninth acquisition in the Houston metro area; last month, the company acquired another Class ‘A’ multifamily community in Houston: Haven at Liberty Hills.

The firm plans to implement a variety of improvements on the property, including adding a washer/dryer in all units, installing USB ports/outlets, implementing valet trash service, and building a package delivery locker system for residents.

“Economic growth from Houston continues to spill over into the suburbs, and that’s turned Conroe into the fastest-growing city in the country, with over 7.8 percent population growth last year,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Demand for rental housing in Conroe is robust, and will remain so for the foreseeable future with more businesses moving into the area. Hilltop Apartments fits perfectly within our portfolio of properties offering luxurious amenities and resort-style, community living at an attainable price.”

Built in 2017, Hilltop Apartments is located at 2200 North Loop 336 West in Conroe. The property comprises one- and two-bedroom units averaging 881 square feet in three-story garden-style buildings. Amenities include a resort-style swimming pool with expansive deck and grill, a business center with complimentary office services, carports and detached garages, a game and media room with a billiards table, a resident clubroom with cyber café, a state-of-the-art fitness center and a laundry facility. Hilltop Apartments is conveniently located close to I-45, the Conroe Regional Medical Center, Lake Conroe, two H-E-B grocery stores, and Sam Houston National Forest.  

The property was 92 percent leased up at the time of sale, with average in-place effective rents of $1,059 per unit or $1.20 per square foot.

Charlotte, NC – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired Integra Springs at Kellswater, a 312-unit multifamily community located in the greater Charlotte area. The asset will be renamed The Vive at Kellswater, and will include $1.355 million in property improvements.

American Landmark, and its debt and equity partner Electra America, are selectively and decisively acquiring value-add properties in excellent locations across the Southeast. The firm, which has already acquired 15 properties this year worth over $800 million, expects to complete $1.5 billion in multifamily acquisitions in 2018. This is their seventh acquisition in North Carolina.

The firm plans to implement its standard enhancements to interiors and common areas with modern amenities including backsplash, upgraded cabinets, plumbing and lighting fixtures in kitchens and bathrooms. Community upgrades include bark park equipment, pool furniture, fitness center equipment, a package locker system buildout, clubhouse upgrades and landscape beautification.

“The addition of The Vive at Kellswater provides an exceptional opportunity to serve residents in Charlotte’s suburbs, an area near major private-sector employers including Wells Fargo and Bank of America,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Additionally, the revitalization of the Kannapolis area will also continue driving demand for workforce housing, and we are excited to contribute to its continued growth and modernization.”

Built in 2011, The Vive at Kellswater is located at 4800 Integra Springs Boulevard. The community offers one-, two- and three-bedroom units, with community amenities including a clubhouse with televisions, a pool table, tanning beds, swimming pool, and business center. Nearby employers include Vulcan Materials Company, Concord-Padgett Regional Airport, and Charlotte Motor Speedway.

Raleigh, NC – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired Sterling Town Center, a 339-unit multifamily community located in Raleigh. The asset will undergo approximately $1.523 million in property improvements.

American Landmark, and its debt and equity partner Electra America, are selectively and decisively acquiring value-add properties in excellent locations across the Southeast. The firm, which has already acquired 16 properties this year worth over $800 million, expects to complete $1.5 billion in multifamily acquisitions in 2018. This is their eighth acquisition in North Carolina.

The firm plans to implement its standard enhancements to interiors and common areas with modern amenities including upgraded kitchen cabinets, hardware and granite countertops. Community enhancements include landscape beautification, new pool furniture, clubhouse upgrades, new fitness center equipment, and package locker systems.

“With major employers including Duke University and Health System and IBM, Raleigh’s below-average unemployment and continued population growth have allowed the metro to become one of the Southeast’s most prominent investment markets,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The decision to expand our portfolio in this important region was made simple, and we look forward to serving residents with renowned quality.”

Built in 2013, Sterling Town Center is located at 7880 Triangle Promenade Drive. One-, two, and three-bedroom units include spacious walk-in closets, tile backsplash, screened porches and private balconies, dishwasher and washer/dryer. Community amenities include barbecue area with grill, sundeck, picnic area, clubhouse and fitness center.

Situated five minutes away from Interstate 540, Sterling Town Center is found near employment hubs, shopping and recreational destinations. Triangle Town Center is five minutes away, North Ridge Country Club is ten minutes away, and Duke Raleigh Hospital is less than 15 minutes away.