Fort Worth, Tex. (November 2, 2020) – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, has acquired The View at Forth Worth apartments, a 300-unit luxury apartment property located in Fort Worth, Texas. The property was acquired for an undisclosed price. American Landmark will rebrand and rename the property “The Shelby at Northside.”
American Landmark now owns 18 apartment communities in the Dallas-Fort Worth metropolitan area.
“This is a brand new luxury property in an excellent location in the highly sought-after Fort Worth submarket of Dallas,” said Christine DeFilippis, chief investment officer at American Landmark. “Suburban sunbelt markets like this one have outperformed other markets throughout the past year due to high in-migration from large cities and high-tax states. This property is an excellent addition to our growing Texas portfolio.” Built in 2018, The View of Fort Worth is located at 1852 North Eastside Drive, and consists of studio, one- and two-bedroom apartments ranging from 594 square feet to 1,169 square feet.
Apartments feature chef-inspired kitchens with stainless steel appliances, designer tile backsplashes and quartz countertops; hardwood style flooring; large walk-in closets; energy-efficient thermostats; in-home washer/dryer; private patio or balcony; and views of downtown Fort Worth.
Community amenities include a resort-style pool and expansive sundeck and outdoor firepit lounge area; clubhouse with lounge, cyber café, business lounge, complimentary coffee bar, and package lounge; fitness center; bark park and pet wash spa; yoga loft; shuffleboard and life-sized snooker; and two courtyards.
In addition to rebranding, American Landmark will add luxury lighting fixtures and electronic/smart locks in apartments, and complete upgrades to the pool deck area, fitness center and landscaping.
The community is conveniently located just off of I-35W, less than five minutes to downtown Fort Worth and the Fort Worth Stockyards historic district.
“This is a brand new luxury property in an excellent location in the highly sought-after Fort Worth submarket of Dallas,” said Christine DeFilippis, chief investment officer at American Landmark.
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.