American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, has acquired Four Corners Apartments, a 390-unit garden style asset in Frisco, Texas. Completed in 2019, the community is considered a “best in class” AAA quality asset.
The acquisition raises American Landmark’s portfolio count in Texas to 36 properties, with 17 properties in the Dallas metro area. The firm now owns and manages almost 29,000 units throughout the Southeast and Texas and is over half way to its goal of adding $2 billion in assets to its multifamily portfolio this year.
“The Dallas MSA continues showing signs of strong demand for the foreseeable future, most notably with its addition of more than 100,000 jobs over the past year and almost 75,000 new residents during that same period,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “It’s a market we’ve come to know well that offers compelling opportunities that fit within our current investment strategy.”
Located at 1690 FM 423 Road, Four Corners is situated in northern Dallas. One-, two- and three-bedroom units include stainless steel appliances, wood-style flooring, dishwasher, disposal, granite countertops, French doors and a kitchen island. Community amenities include a resort-style swimming pool, resident clubhouse, business center with internet, dog park, and onsite management.
Four Corners is found near important transit routes and employers. Dallas Parkway is 10 minutes away, offering direct access into the city’s central business district and its surrounding neighborhoods. Toyota Stadium – which hosts the FC Dallas soccer team – is less than 10 minutes away, and the University of Texas at Dallas is 25 minutes away.
For more information, please visit www.alapts.com.
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 25,000 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.
