American Landmark Rakes $400M From Sunbelt Multifamily Fund
American Landmark Apartments has raised roughly $400 million so far from a fund that eyes pouring capital into multifamily assets, located in the Sunbelt.
This marks the first close of American Landmark Fund V, which will seek a total of about $1 billion in commitments, with the buying power of the pool to have more than $3 billion in flexibility. So far, it has garnered interest from a range of wealthy and institutional investors, with one unnamed co-partner pledging $15 million into the pool.
Fund V is targeting three key areas: management, renovation and purchasing of multifamily properties. The types of assets of interest include market-rate Class B and A product that are mid-priced, according to American Landmark. Additionally, the areas with the best population and job growth will be prioritized.
The fund comes at a time when multifamily rents have been on the retreat since August, with Apartment List?s latest national rent data showing a 0.8 percent monthly decline in December to $1,356.
However, American Landmark is bullish that fundamentals will strengthen, thanks to renting being much more affordable compared to owning, occupancy hovering around 95 percent and construction anticipated to cool.
?As we celebrate our 30th year of business, American Landmark?s approach to disciplined investing and focus on fundamentals will remain central to our philosophy across key markets with proven fundamentals,? Joe Lubeck, CEO of American Landmark, said in a statement.
?Our seasoned team?s deep understanding of the multifamily sector in various economic cycles and submarkets allows us to skillfully complete our investment objectives with clarity and confidence while furthering our growth as one of the nation?s top owner/operators.?
It's unclear if Fund V is focusing on any specific states or cities in the Sunbelt, where the multifamily operator manages a portfolio of over 32,000 units and 100 assets. But it has made at least one purchase: Vinoy at St. Johns, located in Jacksonville, Florida. The community features 420 units and was bought in September 2025.
Source: GlobeSt/ALM