RICHMOND-Landmark Apartment Trust of America, a multifamily REIT that focuses on in select metro areas throughout the Southern United States, has acquired four multifamily properties in this region – namely in Florida, Texas and Alabama. The properties were acquired through two separate transactions totaling $98.2 million. They total 1,346 units at a 95% occupancy rates.

The deals offer "incremental opportunities to create value," Stanley J. Olander, CEO of the REIT, says in a prepared statement. "We continue to target opportunities that enable us to acquire top-quality workforce housing in high-growth markets where we have considerable knowledge and operational expertise."

In the first deal, LATA acquired three properties totaling 1,032 units located in Florida and Alabama. The REIT now owns, operates or manages eight properties in the Tampa market, four assets in the Orlando market and three assets in Alabama.

The acquired properties are:

• Landmark at Grayson Park, which is 94% occupied. It is located at 15501 Bruce B. Downs Blvd. in Tampa.

• Landmark at Woodland Trace. It is 93% occupied and is located at 1450 Sunshadow Dr. in Casselberry, Fla., a submarket of Orlando.

• Landmark at Lancaster Place, which is 94% occupied and located at 10 Kensington Manor Dr., in Calera, Ala., a submarket of Birmingham.

• Landmark at Collin Creek, located at 2301 Pebble Vale in Plano, Texas, a submarket of Dallas. It now owns, operates or manages 21 properties in Dallas.

Instant Insights /

Landmark REIT Buys 1,346-units for $98M

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