American Landmark Apartments, based in Tampa, Florida, has acquired the 408-unit Tempe Metro in Tempe, Arizona. This marks the first project for the owner and operator in the Arizona multifamily market.
“Phoenix is one of the most dynamic and fastest-growing cities in the country, ranking just behind Miami and the most popular migration destination in the U.S.,” said Christine DeFilippis, chief investment officer at American Landmark. “With a diversified economy offering jobs in high tech, finance, hospitality/service, and education, Phoenix will continue to experience above-average job growth, and demand for high-quality apartments is likely to remain for the long term.”
The company has renamed the community The Access. Built in 2010, it features studio, one-, two-, and three-bedroom floor plans between 485 and 1,328 square feet. Units feature 9- to 17-foot ceilings, private balconies, dishwashers, and full-size washers and dryers. Additional highlights of the pet-friendly community includes resort-style swimming pools with a sundeck, a clubhouse with a social lounge and work areas, an outdoor spa, a 24/7 fitness center and spin room, an outdoor kitchen with grilling stations, and a rooftop basketball court.
The Access is a 10-minute drive to Arizona State University, the city’s largest employer and cultural hub.
American Landmark specializes in the acquisition and management of value-add multifamily communities in high-growth markets in the Sun Belt. It has approximately 34,000 units in its multifamily portfolio.
