TAMPA, FL – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has bought Carlyle at Crosstown, a 300-unit garden-style community in Tampa. Located just 15 minutes east of Downtown Tampa, the asset marks the firm’s fifth acquisition in the Tampa market. The property was 96.3 percent occupied at the time of sale.

American Landmark, and its equity partner Electra America, continues to selectively buy properties in brilliant locations across the Southeast and Southwest. This is the company’s 27th property acquisition worth over $1.4 billion since the beginning of 2018, adding over 9,000 apartment units to its portfolio.

The firm plans to implement approximately $2.3 million of interior and exterior capital improvements. Unit enhancements will include smart thermostats, closet cabinet systems, and electronic key fobs. Community upgrades will include a package locker system, clubhouse improvements, and verdant landscaping.

“Tampa has always been an attractive market to invest and grow in, particularly because of its consistent opportunities in labor and economic growth,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Ranked as one of the best cities in the world by Resonance Consultancy, the metro area is receiving the recognition it deserves as a destination with high-quality infrastructure, institutions, and arts, areas that we’ve witnessed firsthand since our initial investment in the city.”

Built in 2009, Carlyle at Crosstown is located at 1820 Crosstown Club Place. One-, two-, and three-bedroom units include granite countertops, black appliances, plank flooring, ceramic tile flooring, and kitchen islands. Community amenities feature a large swimming pool with sundeck, fitness center, business center, clubhouse and lounge, pet grooming station, dog park, and car care center.

Situated between Tampa and Brandon, the community is surrounded by vital transit routes offering access to major employers and the greater Tampa area. Selmon Expressway is less than five minutes away, offering a direct route to downtown Tampa, and Interstate 75 is less than 10 minutes away, providing a quick route to Interstate 4 and the rest of Central Florida. 

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ATLANTA, GA – Toll Brothers, the nation’s leading builder of luxury homes, through its Toll Brothers Apartment Living rental subsidiary, along with its joint venture partner The Davis Companies, announced that the partnership has secured a $51 million construction loan facility from Capital One for the construction of Oleander, a 348-unit luxury apartment community in Atlanta, Georgia. The total project cost is approximately $78 million. The debt and equity financing were arranged by Toll Brothers’ in-house Finance Department.

Leasing is projected to commence in mid-2019.  Affiliates of Toll Brothers Apartment Living will manage Oleander’s development, marketing, leasing and property management.   

Oleander is located on a 4.1-acre parcel within Emory University’s 60-acre master-plotted medical campus. Within the master plot and adjacent to the site is the Atlanta Hawks practice facility, as well as Emory’s orthopedic outpatient care facility.  Walkable from the site across North Druid Hill Road is Children’s Healthcare of Atlanta’s new campus, including a 260,000 SF pediatric ambulatory center, and a $1.3 billion, 446-bed children’s hospital.  

Oleander will feature highly sought after, boutique-inspired amenities such as a resort-style pool, a state-of-the-art fitness center, a luxurious club room with coffee bar, a dining room, lush courtyards and more. Co-working spaces will be available. The pet-friendly community will offer a pet spa and a dog park.

“We are looking forward to continuing our partnership with The Davis Companies with the development of Oleander, an exciting luxury apartment community in Atlanta,” said Charles Elliott, President, Toll Brothers Apartment Living. “With its convenient location, strong demographics and proximity to major job hubs, Brookhaven is an ideal setting for our continued expansion in Atlanta.”

Quentin Reynolds, Head of Investments for The Davis Companies, added, “This is our fifth multifamily development project with Toll Brothers, and our first in Atlanta with them. It has been a fantastic alliance.” 

“We are thrilled to add this well-located residential development to The Davis Companies’ Atlanta portfolio.  We recently completed an extensive reconstruction and repositioning of Tucker Exchange, a 234,596 SF commercial office building in Tucker, GA and we’re excited about the opening of Chelsea Westside, a project consisting of 92 newly-built townhome units on Ellsworth Industrial Boulevard.”

Fred Cooper, Toll Brothers’ Senior Vice President for Finance, International Development and Investor Relations, stated, “Toll Brothers Apartment Living has a pipeline of over 14,000 units we plot to develop, all in joint ventures, in urban and suburban markets across the U.S. We are thrilled to be working again with The Davis Companies, with whom we have projects in suburban Boston, suburban Philadelphia, Princeton and now Atlanta. We are also excited to be working with Capital One, which has been a significant construction lender for us on both condo and rental joint venture projects in a variety of markets.”

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MACON, GA –  Watercrest Senior Living Group announces their continued southeastern expansion with the approved development of a 107-unit, upscale Watercrest senior living community in Macon, Georgia.

The Watercrest Macon senior living community will be ideally located on Bass Road in the thriving Providence at Bass development.  The prosperous area offers high-end residential, plentiful retail and dining establishments, as well as diverse cultural and entertainment venues.

“Bass Capital Group is excited to welcome Watercrest to Providence Village on Bass, our growing development in North Macon.  Watercrest is a fantastic addition to our community and we look forward to giving seniors of Macon and surrounding areas an upscale and pleasant place to reside,” says Chris Geeslin of Bass Capital Group.

Upon completion, Watercrest Macon will feature 75 helped living and 32 memory care residences with resort-style service, extraordinary care and premium accommodations. The comfortably, classy design includes a stunning promenade, fireplace, signature water wall, salon and spa, multiple dining venues and Southern style outdoor living spaces.

Watercrest Senior Living Group, of Vero Beach, Florida, will serve as developer, construction manager and operator of the project.  Groundbreaking is projected for July 2019 with scheduled completion in Fall 2020.

Watercrest Senior Living Group was founded by Marc Vorkapich, CEO, and Joan Williams, CFO, to honor our mothers and fathers, aspiring to become a beacon for quality in senior living by surpassing standards of care, service and associate training. Watercrest senior living communities are recognized for their luxury aesthetic, exceptional amenities, world-class care, and innovative memory care programming offering unparalleled service to seniors living with Alzheimer’s and dementia.

“Our Watercrest development team has proven highly successful in identifying development opportunities with like-minded partners, such as Bass Capital Group,” says Marc Vorkapich, principal and CEO of Watercrest Senior Living Group. “This alignment allows us to profoundly impact the Macon community and its residents with our commitment to exceptional standards in senior living.” 

This month, Watercrest celebrates their 13th groundbreaking in just over four years, a significant accomplishment in the competitive senior living industry.

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