American Landmark Completes $400M 1st Closing for Multifamily Fund
The investment vehicle targets $1 billion in total commitments.
Image courtesy of American Landmark Apartments
American Landmark Apartments has completed the $400 million first closing of American Landmark Fund V and its affiliate entities. The multifamily fund, which consists mainly of equity investments, aims to raise $1 billion in total commitments.
With a buying power of more than $3 billion, Fund V will target the acquisition, renovation and management of market-rate multifamily assets across the Sun Belt region.
American Landmark has already deployed capital from the fund in its September 2025 acquisition of Vinoy at St. Johns, a 420-unit multifamily community located in Jacksonville, Fla. The property was previously known as Rosemont St. Johns, before the buyer rebranded it. The firm’s multifamily portfolio in the Sun Belt region includes more than 32,000 units across 100 properties.
Other activities
In March 2025, American Landmark, together with BH Group, broke ground on The Current at City Center in Cutler Bay, Fla. The project represents the first phase in a $1.5 billion redevelopment initiative that will span the next seven years, aiming to transform Southland Mall into Southplace City Center, which will feature 5,000 market-rate apartments. In May of the same year, the company purchased the 208-unit Flats on Mill., another Sun Belt community located in Fort Worth, Texas.
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As of November 2025, the high supply in the Sun Belt metros led to negative year-over-year rent growth, according to a recent Yardi Matrix National report. Among the metros closing the list were Nashville, Tenn., Orlando, Fla., Tampa, Fla., Dallas, Las Vegas, Phoenix and Austin, Texas.
