The Florida-based multi-family owner-operator American Landmark Apartments announced that it has held a final close for American Landmark Fund IV (ALF IV) with a total of $1.04 billion in capital commitments, surpassing its initial target fundraise of $975 million.
ALF IV will seek to make value-add investments in multifamily opportunities in the U.S. Sunbelt region, focusing on acquisitions, renovations and management of multifamily assets.
With leverage, ALF IV has a total investment capacity of $2.6 billion, and American Landmark Apartments management stated that it is actively investing in well-located, quality apartments in markets with strong job growth and strong population in-migration.
“We were very honored to have strong national and international support for our fourth fund,” said Joe Lubeck, CEO of American Landmark. “Both repeat and new investors, largely institutional, were participants.”
American Landmark Fund III, the predecessor t