American Landmark Apartments closes third real estate fund at nearly $1b
American Landmark Apartments, a multifamily owner-operator in the United States, has completed a final closing of its American Landmark Fund III and its affiliated entities, exceeding its initial hard cap.
The fund opened to investors in December 2019 and closed on $918 million in equity commitments from domestic and foreign institutions, including sovereign wealth funds, pension funds and endowments.
Fund III is American Landmark’s third closed-end real estate fund focused on the acquisition and management of value-added multifamily properties located in the Sun Belt region.
The capital raised will allow the company to deploy approximately $2.6 billion toward the acquisition and repositioning of multifamily properties.
“Our ability to raise almost $1 billion in capital over the course of this fundraise, amidst the economic uncertainty and market volatility brought on by the pandemic, underscores our global investors’ confidence in American Landmark