The JV closed on the acquisition of a 288-unit property just 40 minutes outside of the legendary country music capital
Murfreesboro, TN (March 21, 2022) — American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces that it has entered a joint venture partnership with BentallGreenOak (“BGO”), a global real estate investment management advisor, to acquire Vantage at Murfreesboro. Located in Murfreesboro, a suburb of Nashville, the newly built multifamily apartment community will be renamed The Edge.
This is American Landmark’s fifth apartment community in Tennessee and second joint venture acquisition with BentallGreenOak. In September of 2021, the JV acquired the Parc at Murfreesboro, a newly built 359-unit community in the same city.
“The population in Tennessee is at an all-time high, making a significant demand for high-quality apartments with a wide range of amenities,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “On top of this, the cost of living in this area is relatively low, making it a popular place for people to live, and there is a large cluster of healthcare companies in this city driving job growth.”
Built in 2020 and located at 3833 Manson Pike Road, the newly re-named multifamily apartment complex, The Edge, offers one-, two- and three-bedroom floor plans ranging from 605 to 1,150 square feet. Apartments feature 9-foot ceilings, wood-inspired flooring, all electric modern kitchens with sleek black Energy Star-rated appliances, an in-unit washer/dryer, a spacious private patio, walk-in closets and some units with large fenced-in yards.
The Edge is situated in a gated community and offers an array of resort-style amenities, including a swimming pool, barbeque and picnic area, 24-hour fitness studio, tech center that provides MAC and PC computers, media lounge with an internet café that serves Starbucks coffee and 24-hour emergency maintenance. This pet-friendly community also offers two dog parks, and a dog grooming station.
The property is conveniently located near Interstates 24 and 840, offering an easy 40-minute commute to downtown Nashville for various dining, shopping and arts venues.
American Landmark Apartments is one of the fastest-growing multifamily owner-operators in the United States and ranks No. 33 on the National Multifamily Housing Council list of the top apartment owners in the country with approximately 34,000 apartment units in its portfolio. Based in Tampa, Florida, American Landmark specializes in the acquisition and management of value-added multifamily properties located in high-growth markets throughout the Sunbelt, including Georgia, Florida, North Carolina, South Carolina, Tennessee and Texas. 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. For more information, please visit www.alapts.com.
BentallGreenOak is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $74 billion USD of assets under management (as of December 31, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.
BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment. For more information, please visit www.bentallgreenoak.com
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Melinda Sherwood
Kreps PR
305-849-0467
msherwood@krepspr.com