ST LOUIS, MO – Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced the acquisition of approximately 19 acres of land in the affluent St. Louis suburb of O’Fallon where the company plans to develop their fourth apartment community in Missouri—Avenue64 by Watermark. The expected completion date is August 2022.
Located at 1147 Technology Drive, Avenue64 by Watermark will be conveniently located between I-64 and Highway K, approximately 30 minutes west of downtown St. Louis. The new Class A apartment community is less than one mile from CitiMortgage and Progress West Hospital, two of the metro’s largest employers, and only a five-minute drive from MasterCard’s Global Operations Headquarters. Several local and national restaurant and shopping options are also just a small drive away.
“High barriers to entry, one of Watermark’s top criteria for new sites, has limited development in recent years, leading to a strong multifamily market in the area,” said Jesse Houghtalen, Watermark’s Vice President of Development, Southeast. “We are extremely pleased to have successfully worked with the city during the zoning process in order to go forward with this new project that will help fill the need for quality housing.”
Consisting of three four-tale buildings, Avenue64 by Watermark will include 316 one-, two- and three-bedroom apartments, averaging just over 1,000 square feet. Watermark is dedicated to making a superior living experience, and Avenue64 by Watermark will be no different. Each unit will feature premium interior finishes, including 9-foot ceilings with designer light fixtures, smooth glass cooktop stoves and stainless-steel appliances, gourmet bar-kitchens with quartz countertops, walk-in closets, garden tubs and full-size washers and dryers. As for amenities, Avenue64 by Watermark will include a professionally decorated clubhouse, a 24-hour fitness center with state-of-the-art equipment, a resort style swimming pool with cabanas and entertainment areas as well as a pet-friendly bark park and doggie spa. Additionally, residents will delight in access to an onsite property management team dedicated to the highest-level of service.
With approximately 3 million residents, greater St. Louis is the 21st largest metro by population in the United States, with the city of O’Fallon being one of the area’s most desirable suburbs. With relatively high income levels and affordable living rates, O’Fallon has been noted as one of the best cities to live in in the Midwest. The proposed apartment community will be attractive to families due to its location within the Francis Howell School District, the best school district in St. Charles County and the 11th overall best school district in the state of Missouri, according to niche.com.
Despite the area’s high growth rate, demand for quality multifamily options continues to outpace available supply, especially in O’Fallon, where only 456 units have been delivered in the last five years. The St. Louis MSA, overall, has seen minimal new supply with fewer than 1,800 multifamily completions per year over the last five years.
The development will be the company’s fourth multifamily community in Missouri. They own the Element by Watermark and Watermark at Tiffany Springs in Kansas City and started welcoming residents in early 2019 at Watermark at Chesterfield Village, a 345-unit Class A multifamily community located in the St. Louis suburb of Chesterfield.
Josh Purvis, managing partner with Watermark added, “Our recent multifamily development in Chesterfield has been well received, and we’re excited for our second development in the St. Louis area. The fact that we were able to secure such an advantageous site during the current environment is a credit to the entire Watermark team, and we look forward to bringing another high-quality, Watermark experience to the St. Louis area.”

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ROSWELL, GA – 29th Street Capital (29SC), a privately-held real estate operator, has bought Lake House at Martin s Landing, a Class B, 300-unit asset located in the North Fulton submarket of Atlanta. 29SC plans to add value to the property with light upgrades to 282 apartments that were previously improved by the seller plus full interior renovations on 18 classic units. The firm will also improve the exteriors and amenities.
This is 29SC s third acquisition in Atlanta in the past 12 months and will be a strong addition to our Atlanta portfolio, which has now reached over 700 units, said Javier Bustillo, 29SC s Senior Vice President of Acquisitions. I am excited to add this unique asset to our current Atlanta portfolio and I look forward to our continued expansion in this market.
Lake House at Martin s Landing, located at 1500 Harbor Landing, is approximately 23 miles northeast of downtown Atlanta. Of the three apartment communities with water access in all of Metro Atlanta, two are located on the Chattahoochee River, making Lake House at Martin s Landing the only apartment community with direct access to a lake in all of Atlanta.
Lake House at Martin s Landing offers the area s most spacious two-, three-, and four-bedroom apartment homes inside a master-plotted community. Residents have access to the 53-acre Martin Lake and an uninterrupted 2.4-mile designated walking trail around the lake.
The Lake House at Martin s Landing is located in the middle of one of the highest growth corridors between North Fulton and the Central Perimeter employment centers, added Royce Baptist, 29SC s VP in Atlanta. Between the abundance of jobs and proximity to Martin Lake, this asset offers a fantastic work/lifestyle balance.
The transaction closed Wednesday, September 30. Neither the seller nor the sale price have been released.

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ORLANDO, FL – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, is expanding its footprint in Central Florida. The company has bought the 336-unit Radius Winter Park, located in Casselberry, Fla., along with the 288-unit Ashford at Feather Sound, located in Clearwater, Fla. for an undisclosed price in a privately negotiated transaction. The properties will be renamed Oynx Winter Park and Fairways at Feather Sound, respectively.
This acquisition brings American Landmark s portfolio up to approximately 34,000 apartment units across the Southeastern U.S. It owns and operates six multifamily communities in the Tampa metro area and eight in the Orlando metro area.
These are two fabulously located, presently underperforming assets in two of the strongest job markets in Florida, said Christine DeFilippis, chief investment officer at American Landmark. Tampa s economy and rental market has proven resilient throughout the pandemic, and while Orlando s job market was temporarily up-finished by the closure of theme parks and entertainment venues, jobs are starting to return and apartment demand will likely be shored up by an increasingly diversified economy which is driving apartment demand, as well as in-migration from other parts of the country.
American Landmark will make significant upgrades to both properties immediately to meet its portfolio-wide standards. Upgrades to units include granite countertops, new cabinets, tile backsplash, stainless steel appliances, nickel-brushed plumbing fixtures, luxury lighting fixtures, USB outlets and electronic locks. Community enhancements and upgrades will include new pool furniture, a renovated fitness center/clubhouse, new pool furniture, landscape enhancements and more.
Radius at Winter Park is located at 100 Reflections Circle in Casselberry and consists of 16 two- and three-tale buildings on a 33-acre site. The community offers one- and two-bedroom floor plans ranging from 468 to 998 square feet. Current community amenities include a fitness center, resort-style pool, pool deck, clubhouse, grilling and picnic areas, internet café, dog park, 24-hour laundry facility, package 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-tale 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, a heated swimming pool, a hot tub, pool deck, renovated clubhouse, grilling and picnic areas, business center, dog park, two lakes and a tennis court.
Located on the southern edge of Clearwater, Ashford at Feather Sound is located in a major employment corridor in Tampa Bay, with close proximity to St. Pete-Clearwater International Airport, the Carillon Office Park and the Raymond James Financial Global HQ (one of the largest employers in Tampa Bay). The property is also within simple access of I-275, providing a direct route to the downtowns of St. Petersburg and Tampa, as well as a brief 20-minute drive to the Clearwater and St. Petersburg beaches.

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