ORLANDO, FL – – American Landmark Apartments, one of the fastest growing multi-family owners and operators in the country, is expanding its presence in central Florida. The Company has acquired 336-unit Radius Winter Park in Casselberry, Florida and 288-unit Ashford in Feather Sound, Clearwater, Florida for an undisclosed price in a privately negotiated transaction. The properties will be renamed Oynx Winter Park and Fairways at Feather Sound.
This acquisition increases American Landmark's portfolio to around 34,000 residential units in the southeastern United States. The company owns and operates six multi-family communities in the greater Tampa area and eight in the greater Orlando area.
"These are two fabulously located assets that are currently underperforming two of the strongest labor markets in Florida," said Christine DeFilippis, chief investment officer at American Landmark. “The Tampa commercial and rental market has proven resilient throughout the pandemic. While the Orlando job market has been temporarily boosted by the closure of theme parks and entertainment venues, jobs are returning and demand for housing is likely to be sustained by an increasingly diversified housing economy, which is driving demand for housing as well as immigration from other parts of the country. "
American Landmark will be upgrading both properties immediately to meet portfolio-wide standards. Unit upgrades include granite countertops, new cabinets, backsplash tiles, stainless steel appliances, plumbing fixtures with nickel brushes, luxury lights, USB sockets and electronic locks. Community improvements and upgrades include new pool furniture, a refurbished fitness center / clubhouse, new pool furniture, landscaping improvements, and more.
Radius at Winter Park is located at 100 Reflections Circle in Casselberry and consists of 16 two- and three-story buildings on 33 acres. The community offers one- and two-bedroom floor plans between 468 and 998 square feet. Current community amenities include a fitness center, resort-style pool, pool deck, clubhouse, BBQ and picnic areas, internet cafe, dog park, 24-hour laundry, lockers, playground, and pet spa. Radius at Winter Park is located at the convergence of the Winter Park, Maitland, and Casselberry submarkets, approximately 25 minutes northeast of downtown Orlando.
Ashford at Feather Sound is located at 13621 Feather Sound Circle East in Clearwater and consists of 21 two-story buildings and a clubhouse on 21.6 acres.
The property offers one- and two-bedroom units ranging from 608 to 1,067 square feet.
Current amenities include a 24-hour fitness center, heated pool, whirlpool, pool deck, renovated clubhouse, BBQ and picnic areas, business center, dog park, two lakes, and tennis court.
Ashford at Feather Sound is located on the southern edge of Clearwater on a major Tampa Bay employment corridor, close to St. Pete-Clearwater International Airport, Carillon Office Park and Raymond James Financial Global HQ (one of its headquarters) largest employer in Tampa Bay). The property is also located off I-275, with direct access to downtown St. Petersburg and Tampa, and a short 20-minute drive to Clearwater and St. Petersburg beaches.