American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired The Mason, a 264-unit apartment community located in Ladson, South Carolina, roughly 30 minutes north of Charleston. The property will receive $1.3 million towards renovation of unit interiors and community spaces.
With this acquisition, American Landmark now owns and manages four multifamily properties in the Palmetto State, all within the Charleston area.
“Charleston’s consistent population growth and young, diverse workforce have established strong fundamentals that provide plenty of runway for growth in the region’s multifamily sector,” said Christine DeFilippis, Chief Investment Officer. “The addition of this class A property highlights the demand that exists for high quality, modern housing in a city with an array of well-paying jobs in the aerospace, automotive, aviation, bioscience, and defense industries, to name a few.”
Property improvements will include master closet organizers in master bedrooms, smart locks to all units and common areas, luxury faucets & plumbing fixtures, and luxury lighting fixtures. Community upgrades will feature a package locker system, landscape beautification, summer kitchen, outdoor fitness equipment, and clubhouse enhancements.
Built in 2020, The Mason is located at 1110 Mason Pond Place. Studios, one-, two- and three-bedroom units feature storage units, granite countertops, stainless steel appliances, island kitchens, walk-in closets and a balcony/patio. Community amenities include a business center, clubhouse, playground, swimming pool, hiking trails, and Wi-Fi.
Situated in Charleston County, The Mason is located near multiple transit routes and employers. Interstate 26 is about five minutes away, providing direct access throughout the greater Charleston area. Charleston Southern University is about 10 minutes away, with additional employers like Bosch only 20 minutes away and Charleston International Airport and Boeing approximately 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 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.
