American Landmark to acquire up to $2b in multifamily assets
American Landmark Apartments has plans to acquire another $1.5 billion to $2 billion in multifamily properties in 2020, bringing its current portfolio of 33,000 apartment units up to nearly 40,000 units by year end.
Capitalizing off of strong real estate fundamentals in the Sun Belt — states such as Texas, Florida, Georgia and North Carolina — along with domestic and international investors’ healthy appetite for multifamily product, American Landmark will continue its strategy of opportunistic investing in class A– and B product in secondary markets throughout the U.S. Southeast.
“We still see plenty of runway in the middle-market multifamily sector in 2020,” said Joe Lubeck, CEO of American Landmark Apartments. “Strong population and job growth continues to fuel demand for apartments in metros across the Southeast, and retirees/seniors are also entering the rental market in droves. While the market has become very competitive and overheated in some areas