American Landmark going on buying spree

Tampa-based apartment owner bought $1.7 billion worth of multifamily rental projects in 2019. The company says it will likely exceed that figure this year.

  • By Kevin McQuaid
  • | 6:00 a.m. February 28, 2020
  • | 0 Free Articles Remaining!
COURTESY PHOTO — American Landmark Apartments bought the 300-unit Luxe at 1820 complex in Brandon in 2019 and invested $2.3 million to upgrade the 20-year-old property.
COURTESY PHOTO — American Landmark Apartments bought the 300-unit Luxe at 1820 complex in Brandon in 2019 and invested $2.3 million to upgrade the 20-year-old property.
  • Commercial Real Estate
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On the heels of an extremely active 2019 in which it made more than two dozen purchases, Tampa-based American Landmark Apartments says it is aiming to buy as much as $2 billion worth of multifamily rental projects in the year ahead.

Company CEO Joe Lubeck says that if successful, the company will control about 40,000 units at the close of 2020 — up 21% from about 33,000 today.

 

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