American Landmark Purchases 320-Unit FL Multifamily

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Multifamily Pool at Dusk

PALM BAY, FL – American Landmark Apartments, an owner and operator of apartment buildings, has a shared apartment of 320 units in 1000 Palm Dr. NE in Palm Bay, FL.

The apartment community, known as The Vinings, will receive $ 3 million in capital improvements and rebranding and will be renamed The Braxton.

American Landmark Apartments plans to run a value creation program throughout the 1987 property. Upgrading a variety of functions in the device such as granite countertops, new cabinets, backsplash, stainless steel devices, plumbing fixtures, lighting fixtures, USB sockets and electronic locks. The company plans to upgrade the community's facilities, including a BBQ table, dog park, fitness center, clubhouse, swimming pool, and landscaping.

The apartment community has one, two, and three bedroom floor plans that range in size from 595 square feet to 1,356 square feet. The unit floor plans offer open floor plans, fully equipped kitchens, private patios or balconies, and washers and dryers in the unit. Current community amenities include two swimming pools, fitness center, and tennis court.

The apartment community is located in the Space Coast region of Florida in close proximity to the Palm Beach campus of Eastern Florida State College, numerous Atlantic beaches and Patrick Air Force Base.

With the acquisition, the company wants to take advantage of the increasing activity in the region.

“Palm Bay and the surrounding cities of Melbourne, Titusville and Cape Canaveral are seeing significant employment and population growth due to the strong high-tech, defense and aerospace sectors in the region. Therefore, now is an excellent time to invest in high quality rental housing, which will remain an important contributor to the United States. Economy for the years to come, ”said Christine DeFilippis, CIO of American Landmark Apartments.

With its most recent purchase, American Landmark Apartments currently owns and operates 22 multi-family communities in Florida. The company's national portfolio now includes more than 33,000 units.

The Braxton at 1000 Palm Dr. NE in Palm Bay, FL.

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