American Landmark Apartments Acquires 325-unit Class A Community in Dallas-Fort Worth

American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired Elan River District, a 325-unit multifamily community located in Fort Worth, Texas. The property will receive $744,000 in capital improvements and be renamed Mercantile River District.

With this acquisition, American Landmark Apartments now owns 47 properties in Texas and 22 in the Dallas-Fort Worth area.

“Demand for new and existing housing continues to keep the Dallas-Fort Worth area at the forefront for us,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Residential construction has considerably surged since this time last year, indicating continued interest for housing throughout the metro that’s supporting stronger fundamentals and forecasting greater yields for multifamily investments in the workforce category.”

Property improvements will include new smart locks and upgrades toward common areas including the fitness center, clubhouse and landscape beautification.

Built in 2017, Mercantile River District is located at 4921 White Settlement Road. Studios, one-, two- and three-bedroom units include stainless steel appliances, USB outlets, Nest thermostats, granite countertops, private balconies and washer/dryer. Community amenities feature a business center, swimming pool, fitness center and lounge.

Situated in the Riverbend neighborhood of Fort Worth, the community is found near a variety of recreational and retail options. Fort Worth Botanic Garden and Fort Worth Museum of Science & History are less than 10 minutes away. Log Cabin Village is approximately 10 minutes away from the property, with the Fort Worth Zoo also at about the same distance.

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 management of value-add multifamily assets located in high-growth markets throughout the Southeast United States. Our current portfolio consists of approximately 34,000 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, 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.