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American Landmark Acquires Arizona Community
American Landmark Acquires Arizona Community
October 18, 2022

This purchase marks the company's second in the state this year.

Multifamily owner-operator American Landmark Apartments has acquired Cabana 99th, a new apartment community in Glendale, Ariz. Located at 10000 W. Missouri Ave., the 286-unit apartment community is being renamed The Lotus. It is the company’s second Arizona acquisition this year, after June’s purchase of The Access Apartments.


Completed this year, The Lotus provides studio, one- and two-bedroom apartments extending in size from 468 to 828 square feet. Features and finishes of the residences include full-size washers and dryers, 9-foot ceilings, wood-style vinyl plank flooring, energy-efficient windows and, in select apartments, workstation desks. Among the community’s common-area amenities is an outdoor fitness space.


The community’s 19 three-story wood-frame buildings are spread across a more than 10-acre site. The property was 93.7 percent occupied at the time of the acquisition.


“The main challenge was the volatility in the debt market,” Christine DeFilippis, chief investment officer of American Landmark Apartments, told Multi-Housing News. “Indexes rose significantly and very quickly while under contract. We were able to place suitable debt with hedge as the property quickly completed lease up and achieved stabilized occupancy during the contract term.”


Antique capital


The Lotus is located in a neighborhood within Glendale called Westside. A number of parks, recreation areas and shopping destinations are located near the apartment community. The parks include Maryvale Park, Glendale Heroes Regional Park and Grand Canal Linear Park. Columbia Plaza, Camelback 101 Plaza and Agua Fria Towne Center are prominent retail centers within a 20-minue walk.



Downtown Phoenix and Sky Harbor International Airport are situated a 25-minute drive away. Earlier this month, American Landmark acquired the 400-unit Element at Stonebridge in Richmond, Va.



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A large apartment building with cars parked in front of it
By Devin & Ciana Work Joint February 28, 2025
American Landmark Apartments (“American Landmark”), one of the nation’s top apartment owners and operators, and BH Group, a Miami-based real estate investment firm, celebrated the groundbreaking of The Current at City Center, a 350-unit apartment community located on the site of Southland Mall in the southern Miami-Dade Town of Cutler Bay. The residences mark the beginning of a seven-year, multi-phase, $1.5 billion buildout of the mall into Southplace City Center, a dynamic mixed-use development that will redefine the landscape of southern Miami-Dade County. Part of a large-scale project that will bring approximately 5,000 market rate apartments and condominium residences, the eight-story Current at City Center will include 24,000 square feet of ground retail and a new parking garage. Presidente Supermarkets, one of the country’s largest Hispanic-owned grocery chains, will occupy the entirety of the building’s ground floor retail and will have a one-of-a-kind design that aligns with the overall vision and strategy of Southplace City Center. “This groundbreaking is a crucial step in fulfilling our goal of creating a more vibrant and connected community in Cutler Bay and all of southern Miami-Dade County,” said Joe Lubeck, CEO of American Landmark. “As we break ground on The Current at City Center and Southplace City Center as a whole, we envision a focal point for the area where residents have a true live-work-play option that satisfies the growing need for housing, updated retail, communal spaces, casual and high-end dining, and much more. We are thankful for the collaborative efforts of Miami-Dade County and the Town of Cutler Bay as they share their passion for the economic growth and modernization of this area.” “With The Current at City Center now underway, this groundbreaking marks the beginning of a new era for Miami-Dade County,” added Isaac Toledano, Founder and CEO of BH Group. “This is only the beginning of what will become one of the area’s most transformative developments bringing greater economic opportunity, innovation, and inspiration for what can be accomplished in this exceptional community.” Located at 20505 S Dixie Hwy, The Current at City Center will deliver modern, upscale residences designed to meet the growing demand for high-quality housing in Miami-Dade County. The new development will feature 350 apartment homes along with a comprehensive array of luxury amenities including a resort-style pool, state-of-the-art fitness center, resident lounge, dog park, and lush outdoor gathering areas. The transformation of Southland Mall into Southplace City Center will introduce more than 5,000 market rate residential units, 500,000 square feet of retail, dining, and entertainment space, a 60,000-square-foot medical center, a 150-key hotel, and extensive green spaces. The project will be adjacent to Miami-Dade County’s new Bus Rapid Transit (BRT) system, enhancing regional connectivity and accessibility. Developed by American Landmark in partnership with BH Group, Southplace City Center is expected to generate approximately 3,000 new jobs during construction and $44 million in revenue within its first five years with 2,000 permanent jobs thereafter, reinforcing Culter Bay’s position as a key hub for residential and commercial growth. The 100-acre property will feature a reimagined retail center with direct storefront access, improved parking, and a dedicated community space for events such as concerts and farmers’ markets. Current major retailers include Macy’s, JCPenney, Regal Cinemas, Florida Technical College, TJ Maxx, Old Navy, DSW, ROSS Dress for Less, LA Fitness, Five Below, Olive Garden, Buffalo Wild Wings, and Applebee’s. The retail, design, and construction team for Southplace City Center includes Urban Retail Properties, LLC, MSA Architects, RSP Architects and general contractor American Engineering & Development Corp. Construction of The Current at City Center is expected to be completed by Q3 2027. #thatscommunitynews #communitynewspapers #miamidade #miamidadecounty #thatscommunity #miamicommunitynews #coralgables #palmettobay #southmiami #doral #aventura #pinecrest #kendall #broward #biscaynebay
By Devin & Ciana Work Joint September 18, 2024
Blue Goose property has 300 units
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