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 12th 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.
“Charlotte’s employment outlook remains not only positive, but diverse with tech and banking highlighting the area’s dynamic labor market,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “These new jobs will drive demand for apartment rentals in both the near and long-term.”
Built in 2002, Highlands at Alexander Pointe offers one-, two-, and three-bedroom apartments. Community amenities include a resort-style pool and fitness center. Located at 310 Highroad Drive, the community is less than five minutes away from Interstate 485, Interstate 85, and University of North Carolina Charlotte.
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.
