FORT LAUDERDALE, FL – Wood Partners, a national leader in multi-family real estate development and acquisition, announced the grand opening of its latest luxury midrise apartment community, Bask, in Fort Lauderdale, Florida. Located at 1919 Southeast 10th Avenue, Bask joins a list of well-established Wood Partners’ properties in the state.

The community, which features 310 apartment homes, is located immediately adjacent to the Harbor Shops, a 250,000-square-foot regional shopping center, complete with a Publix, and is within walking distance to several restaurants and bars. In addition, the well loved and lively Las Olas Boulevard is situated less than two miles to the north and Greater Fort Lauderdale’s beaches are located within 1.5 miles to the east.

“We are excited to be a part of Fort Lauderdale’s urban living resurgence,” said Jeff Quinlivan, Managing Director for Wood Partners’ South Florida office. “Situated within the 17th Street corridor, Bask offers simple access to Downtown and Fort Lauderdale’s stunning beaches.”

Bask is an eight-tale apartment wrap with a parking garage. The community offers convenient access to major transit thoroughfares via nearby US-1, which affords quick access to I-595, I-95, I-75, and Florida’s Turnpike. The location also connects residents to greater economic resources in the region, including nearby Broward Health Medical Center – Fort Lauderdale’s largest health care facility – Port Everglades, Fort Lauderdale-Hollywood International Airport, and the 17thStreet Corridor, which is filled with local shops, entertainment and small businesses.

Now open, Bask features oversized one- and two- bedroom floor plans. High-touch, community-centric amenities such as a community demonstration kitchen, flex office space, fitness room, yoga room, pet spa and outdoor TV lounge provide residents with an elevated living experience. Taking advantage of the balmy Florida climate, Bask also provides a hammock lounge area, tropical courtyard gardens, grilling areas and a resort-style pool.

The coastal-inspired apartment interiors feature wood-styled floors, stainless steel kitchen appliances and expansive kitchen islands with quartz countertops. Additionally, all apartments have balconies and the first floor units feature private, fenced-in patios. Bask offers technology and green-living upgrades as well, including Wi-Fi in all common areas, electric vehicle charging stations, a covered, controlled-access parking deck, and a 24/7 access-controlled package room.

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CHARLOTTE, NC – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has bought The Oaks, a 318-unit garden-style community located in Charlotte. Situated just 15 minutes north of the downtown in the West Sugar Creek area, the asset marks the firm’s sixth acquisition in the Charlotte market. The property was 94 percent occupied at the time of the sale.

American Landmark, and its partner Electra America, continue to selectively buy properties in brilliant locations across the Southeast and Southwest. The company has completed 25 property acquisitions worth over $1.5 billion since the beginning of 2018, adding over 10,000 apartment units to its portfolio.

Charlotte’s strong long-term job and population growth has made it a focus of continued strategic investment for the company.

“Charlotte is one of the fastest-growing metro areas in the United States, and added nearly 200,000 jobs over the past five years,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “We anticipate the demand for apartments to outpace supply for many years to come.”

American Landmark will invest approximately $2.3 million into interior and exterior upgrades to the property. Unit enhancements will include stainless steel appliances, new kitchen cabinets and granite countertops, tile blacksplashes and new brushed chrome faucets, smart thermostats, two-inch blinds, USB plugs, Bluetooth speaker lighting fixtures, under-the-cabinet lighting systems, and plank flooring to carpeted upper floor units. Enhancements to the overall community will include adding a pet grooming station, a package locker system, new landscaping, and enhancements to the clubhouse.

Built in 1996, The Oaks consists of one- and two-bedroom apartments in three-tale garden-style buildings. Average unit size is around 833 square feet, and all units feature washer/dryer machines. Attached garages are available and fireplaces are in select units. Community amenities feature a large swimming pool with travertine deck, clubhouse with cyber café, bocce ball court, fitness center, car care center, and dog park.

American Landmark Apartments/Electra America is one of the fastest-growing multifamily owner-operators in the United States, with a current portfolio consists of approximately 23,000 units in Florida, Georgia, North Carolina, South Carolina and Texas.

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DALLAS, TX – Southern Properties Capital, a subsidiary of Dallas-based real estate investment company Transcontinental Realty Investors, Inc, is announced a joint venture agreement with a wholly owned subsidiary of Macquarie Group Limited.

The joint venture, Victory Abode Apartments d/b/a Abode Properties Services, currently holds 10,133 units across 11 states with 3 assets currently under construction, formed with TCI and Southern Properties Capital contributing the portfolio of more than 50 multifamily assets together with a substantial equity investment by Macquarie.

The joint venture’s primary focus is to make a business platform that will allow dramatic expansion in the multi-family arena. The intent is to increase the overall size of the portfolio over the next several years, through strategic buildout of its robust development pipeline alongside opportunistic acquisitions. The company remains highly focused in its core Southeast and Southwest US geographic areas.

Victory Abode Apartments (VAA) is one of the largest multi-family operating companies in the country. VAA is immediately poised to address existing and future demand for quality multifamily residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. VAA’s strong equity position is balanced through the use of fixed-rate, long-term HUD mortgage debt, commercial mortgages, and the use of various conventional construction lenders. The company will be principally operated by a dedicated and highly professional management team with decades of industry experience, with strategic support from the venture partner.

“This transaction falls right in line with our strategic vision,” stated Daniel Moos, CEO and President of Transcontinental Realty Investors/Southern Properties Capital, and CEO of Victory Abode Apartments. “This new collaboration with Macquarie, in addition to our Series A and B Bond Raisings on the Tel Aviv Stock Exchange, makes additional financial strength to an already thriving organization.”

“We are excited to partner with TCI / Southern Properties on the acquisition of this portfolio of predominantly workforce housing, with opportunities for expansion in attractive, pro-business markets,” said Jackie Hamilton, Senior Managing Director at Macquarie Principal Finance.

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