HOUSTON, TX – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has bought Haven at Liberty Hills, a 246-unit Class ‘A’ multifamily asset in Houston. The asset will undergo approximately $890,000 in property improvements.

American Landmark, and its debt and equity partner Electra America, are selectively and decisively acquiring value-add properties in brilliant locations across the Southeast and Southwest. The firm, which has already bought 17 properties this year worth over $800 million, expects to complete $1.5 billion in multifamily acquisitions in 2018. This is their eighth acquisition in Houston and 18th in Texas.

The firm plans to implement its standard enhancements to common areas with modern amenities including a dog park, summer kitchen, and fire pits alongside the pool area.

“Houston remains an attractive market for investment thanks to accelerated hiring that underpins strong demand outpacing new deliveries,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The addition of a Class ‘A’ asset to our portfolio offers an opportunity to give residents an improved living experience with amenities that meet their needs.”

Built in 2018, Haven at Liberty Hills is located at 14580 Crosby Freeway. One- and two-bedroom units include black appliances with in-door water, faux wood blinds, generous closet and storage space, washer/dryer, granite countertops, brushed nickel designer hardware, and bright open floor plans. The pet-friendly community also includes a club-quality lifestyle center, swimming pool with sundeck and Wi-Fi, outdoor kitchen, and resident game lounge.

Situated five minutes away from Crosby Freeway, Haven at Liberty Hills is situated less than 20 minutes away from Downtown Houston, offering ease of access to major employment hubs including University of Houston-Downtown and Minute Maid Park. The community is also surrounded by recreational areas, including Brock Park Golf Course, Banana Bend Nature Preserve, Gene Green Beltway 8 Park, and River Terrace Golf Course.

American Landmark is a national multifamily owner-operator specializing in multifamily acquisition, repositioning and property management.  It owns and operates properties in Georgia, Florida, North Carolina, South Carolina and Texas. 

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RALEIGH, NC – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has bought Sterling Town Center, a 339-unit multifamily community located in Raleigh. The asset will undergo approximately $1.523 million in property improvements.

American Landmark, and its debt and equity partner Electra America are selectively and decisively acquiring value-add properties in brilliant locations across the Southeast. The firm, which has already bought 16 properties this year worth over $800 million, expects to complete $1.5 billion in multifamily acquisitions in 2018. This is their eighth acquisition in North Carolina.

The firm plans to implement its standard enhancements to interiors and common areas with modern amenities including upgraded kitchen cabinets, hardware and granite countertops. Community enhancements include landscape beautification, new pool furniture, clubhouse upgrades, new fitness center equipment, and package locker systems.

“With major employers including Duke University and Health System and IBM, Raleigh’s below-average unemployment and continued population growth have allowed the metro to become one of the Southeast’s most prominent investment markets,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The choice to expand our portfolio in this vital region was made simple, and we look forward to serving residents with renowned quality.”

Built in 2013, Sterling Town Center is located at 7880 Triangle Promenade Drive. One-, two, and three-bedroom units include spacious walk-in closets, tile backsplash, screened porches and private balconies, dishwasher and washer/dryer. Community amenities include barbecue area with grill, sundeck, picnic area, clubhouse and fitness center.

Situated five minutes away from Interstate 540, Sterling Town Center is found near employment hubs, shopping and recreational destinations. Triangle Town Center is five minutes away, North Ridge Country Club is ten minutes away, and Duke Raleigh Hospital is less than 15 minutes away.

American Landmark is a national multifamily owner-operator specializing in multifamily acquisition, repositioning and property management.  It owns and operates properties in Georgia, Florida, North Carolina, South Carolina and Texas. 

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NEW YORK, NY – S&P Dow Jones Indices released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released for June 2018 shows that home prices continued their rise across the country over the last 12 months.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.2% annual gain in June, down from 6.4% in the previous month. The 10-City Composite annual increase came in at 6.0%, down from 6.2% in the previous month. The 20-City Composite posted a 6.3% year-over-year gain, down from 6.5% in the previous month. 

Las Vegas, Seattle and San Francisco continued to report the highest year-over-year gains among the 20 cities. In June, Las Vegas led the way with a 13.0% year-over-year price increase, followed by Seattle with a 12.8% increase and San Francisco with a 10.7% increase. Six of the 20 cities reported greater price increases in the year ending June 2018 versus the year ending May 2018.  

Before seasonal adjustment, the National Index posted a month-over-month gain of 0.8% in June. The 10-City and 20-City Composites reported increases of 0.4% and 0.5%, respectively. After seasonal adjustment, the National Index recorded a 0.3% month-over-month increase in June. The 10-City and 20-City Composites both posted 0.1% month-over-month increases. Nineteen of 20 cities reported increases in June before seasonal adjustment, while 17 of 20 cities reported increases after seasonal adjustment.   

“Home prices continue to rise across the U.S.” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “But, even as home prices keep climbing, we are seeing signs that growth is easing in the housing market. Sales of both new and existing homes are roughly flat over the last six months amidst news tales of an increase in the number of homes for sale in some markets. Rising mortgage rates – 30 year fixed rate mortgages rose from 4% to 4.5% since January – and the rise in home prices are affecting housing affordability.

“The west still leads the rise in home prices with Las Vegas displacing Seattle as the market with the fastest price increase. Population and employment growth often drive homes prices. Las Vegas is among the fastest growing U.S. cities based on both employment and population, with its unemployment rate dropping below the national average in the last year. The northeast and mid-west are seeing smaller home price increases. Washington, Chicago and New York City showed the three slowest annual price gains among the 20 cities covered.”

More than 27 years of history for these data series is available, and can be accessed in full by going to www.homeprice.spdji.com. Additional content on the housing market can also be found on S&P Dow Jones Indices’ housing blog: www.housingviews.com

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