PALM BAY, FL – American Landmark Apartments, one of the fastest growing apartment building owners in the country, has acquired The Vinings at Palm Bay, a 320-unit shared apartment in Palm Bay, Florida. The community has been renamed The Braxton and will be undergoing a $ 3 million capital improvement and rebranding program.
With this acquisition, American Landmark now owns and operates 22 multi-family communities in Florida and has a national portfolio of more than 33,000 units.
Braxton is conveniently located in Florida's booming Space Coast region, home to thousands of high-tech aviation and manufacturing jobs, as well as employers such as Harris Corporation, Northrop Grumman, SpaceX and Space Coast Credit Union. It is 10 minutes from many of the Atlantic Ocean beaches and Eastern Florida State College – Palm Beach Campus. 30 minutes from Patrick Air Force Base and less than 45 minutes from Titusville and Cape Canaveral.
Earlier this year, the Milken Institute, a non-partisan economic think tank, named the Space Coast region one of the top ten best performing cities in the United States, alongside major metropolitan areas such as San Francisco, Seattle and Austin, Texas.
“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 properties in the region that will continue to be an important contributor to the US economy in the years to come, ”said Christine DeFilippis, chief investment officer at American Landmark.
American Landmark plans to improve a variety of features across the property in a comprehensive, value-added program. Device upgrades include granite countertops, new cabinets, backsplash, stainless steel appliances, plumbing fixtures with nickel brushes, luxury lights, USB sockets, and electronic locks. Site improvements include a BBQ table, dog park, and renovated fitness center / clubhouse, swimming pool, and landscaping.
Built in 1987, The Braxton is located at 1000 Palm Place Drive Northeast and consists of one, two, and three bedroom apartments ranging in size from 595 square feet to 1,356 square feet. The apartments have open floor plans, full kitchens, private decks or balconies, washer / dryer in the unit, and sleek fixtures. Communal facilities include two swimming pools, fitness center, tennis court, and more.