
American Landmark Apartments continues to grow its multifamily portfolio, with a big push in thriving Sun Belt markets. This month, the Tampa, Florida-based owner and operator has acquired three apartment communities with 991 units in the Atlanta; Charlotte, North Carolina; and Jacksonville, Florida, metros.
So far in 2021, American Landmark has acquired 24 Sun Belt communities with a cumulative value of $1.5 billion. The fast-growing owner and operator counts approximately 34,000 units in its multifamily portfolio, ranking No. 33 on the National Multifamily Housing Council’s 2021 Top Apartment Owners list.
This latest acquisition includes the 222-unit Park 156 in the Atlanta suburb of Lawrenceville, the 503-unit Phillips at Mallard Creek and Villas at Mallard Creek in Charlotte, and the 266-unit Tapestry Westland Village in Jacksonville.
“The three properties acquired at the beginning of this month reflect our focus on tertiary markets in Sun Belt 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 2001, Park 156 is a gated community 30 minutes from downtown Atlanta. It features one-, two-, and three-bedroom floor plans with modern design finishes as well as a pool, a fitness center, a dog park, a clubhouse, and laundry facilities. The community has been renamed Artistry at Bethesda.
Built in 2013 and 2019, respectively, Phillips at Mallard Creek and Villas at Mallard Creek offer one-, two-, and three-bedroom floor plans. Apartments at Phillips feature stainless steel appliances, in-unit washers and dryers, and optional covered parking or garages. Amenities include a swimming pool, a pet park, a 24-hour fitness center, outdoor lounge areas, and a clubhouse. Apartments at the Villas also include stainless steel appliances, tall ceilings, and wooded views. Amenities include a 24-hour fitness center with Matrix equipment and a resort-style swimming pool. The communities will be run as a single property under the name Latitude.
Tapestry at Westland is a new 28-acre luxury community built in 2020. It features upscale studio, one-, two-, and three-bedroom units with chef-inspired kitchens with granite countertops, weathered barnwood-style plank flooring, spacious walk-in closets, full-sized washers and dryers, and bathroom vanities with double sinks. Amenities include a saltwater pool with a sun shelf, a luxurious resident clubhouse, co-working space and a business center, a fitness center and yoga studio with an on-demand virtual trainer, an on-site pet park, and an outdoor pavilion and grilling stations.