Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Advertisement

Header Primary Menu

  • Issues
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Home News Regions Central Virginia Landmark Apartment Trust buys four multifamily properties for $98.2 million

Landmark Apartment Trust buys four multifamily properties for $98.2 million

Published October 17, 2013 by Robert Powell, III

Richmond-based  Landmark Apartment Trust of America Inc., a real estate investment trust,  has acquired four multifamily properties in Florida, Texas and Alabama in two deals  totaling $98.2 million.

The four properties contain a total of 1,346 units, which are 95 percent occupied.

“With these acquisitions, we continue to grow our footprint, adding four attractive assets situated in desirable growth markets, with incremental opportunities to create value” Stanley J. Olander, CEO and director of company, said in a statement. “We continue to target opportunities that enable us to acquire top-quality workforce housing in high-growth markets where we have considerable knowledge and operational expertise.”

In the first deal, Landmark bought three properties totaling 1,032 units  in Florida and Alabama.. The acquired properties include:


• Landmark at Grayson Park, which is 94 percent occupied, is in Tampa, Fla. The property was constructed in 1987 and contains 408 units.
• Landmark at Woodland Trace, which is 93 percent occupied, is in Casselberry, Fla., a submarket of Orlando. The property was constructed in 1988, expanded in 2005, and contains 384 units.
• Landmark at Lancaster Place, which is 94 percent occupied, is in Calera, Ala., a submarket of Birmingham. The property was constructed between 2007 and 2008 and contains 240 units.

With the completion of this deal, Landmark now owns, operates or manages eight properties in the Tampa market, four in the Orlando area and three in Alabama.

In the second transaction, the company acquired Landmark at Collin Creek in Plano, Texas, a submarket of Dallas. The property, built in 1988, contains 314 units and is 98 percent occupied. With the completion of this deal, Landmark increased the number of properties it owns, operates or manages in the Dallas area to 21.

Landmark owns and operates approximately 18,000 apartment units, and provides management services for more than 12,500 units owned by affiliates, located throughout the South.

Related Stories

Virginia Business logo

New international grocery store coming to Richmond

Virginia Business logo

Carolina Ale House to open first Virginia location

Virginia Business logo

IBP Property LLC purchases portfolio of Richmond industrial properties for $6 million

Trending

Newport News apartments sell for $9.75M

SCC approves Dominion’s $9.8B offshore wind farm

Amazon opens new Chesapeake facility

Six Va. companies land spots on Fortune Global 500

Va. Credit Union loses bid to expand membership

Sponsored Stories

Creating An Urban Destination in Chesapeake

5 surprising facts employers should know about voluntary benefits

What Supply Chain Problems should you be planning for in 2023?

Advertisement

Advertisement

Trending

Newport News apartments sell for $9.75M

SCC approves Dominion’s $9.8B offshore wind farm

Amazon opens new Chesapeake facility

Six Va. companies land spots on Fortune Global 500

Va. Credit Union loses bid to expand membership

Sponsored Stories

Creating An Urban Destination in Chesapeake

5 surprising facts employers should know about voluntary benefits

What Supply Chain Problems should you be planning for in 2023?

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2022 Virginia Business. All rights reserved.

Site Maintained by TechArk