American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, has acquired Parc at Wesley Chapel, a 248-unit Class A apartment community in the Tampa Bay metropolitan area. The property was acquired for an undisclosed price from Equity Resources, LLC.
American Landmark owns and operates seven multifamily communities now in the Tampa Bay metro area.
“Tampa Bay’s diverse job market serves as a compelling pull factor that furthers the demand for high-quality housing in the region,” said Christine DeFilippis, Chief Investment Officer at American Landmark Apartments. “With opportunity in the financial, tech, manufacturing and defense and security industries, the area’s fundamentals made Parc at Wesley Chapel a clear fit for our portfolio that’s expected to continue strong lease-up in the near future.”
Built in 2020, Parc at Wesley Chapel is located at 5561 Post Oak Boulevard. Studios, one-, two- and three-bedroom units range from 681 square feet to 1,483 square feet and include granite countertops, wood-style flooring, smart-home automation, gourmet kitchen with island, Whirlpool stainless steel appliances and washer/dryer. The pet friendly community features a resort-style pool, elevator access, fitness center, Luxer package system, electric vehicle charging stations, dog wash, fire pit with cabanas and a pet park.
Situated in suburban Tampa Bay, the community is found in the family-oriented city of Wesley Chapel. Located just two minutes away from Interstate 75, the property has direct access to Downtown Tampa and surrounding retail and dining amenities. Nearby employers include Busch Gardens, Saint Leo University and the University of South Florida, designated a preeminent state research university.
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 aggressive management of value-add multifamily assets located in high-growth markets throughout the Southeast United States. Our current portfolio consists of approximately 33,000 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.
