American Landmark Buys Suburban Jacksonville Community
- Apr 16, 2020
American Landmark Apartments has acquired Sentosa Beachwalk, a recently completed, 348-unit community in Jacksonville, Fla. The new owner plans to rebrand the community as The Elysian. According to Yardi Matrix data, the previous owner was Summit Contracting Group.
The acquisition brings the buyer’s Southeast portfolio to 30,000 units. In February, American Landmark purchased a 232-unit, Class B property in Summerville, S.C.
Located at 65 Sentosa Drive in the Saint Johns suburb, the community came online in 2019. The soon-to-be Elysian comprises one- to and three-bedroom units featuring granite countertops, stainless steel appliances and smart thermostat controls. Common-area amenities include a fitness center, a fireside lounge, a swimming pool, volleyball courts and laundry facilities.
American Landmark plans to undertake landscape enhancements, add a temperature-controlled package locker delivery system and upgrade the car wash, dog park and common areas. The property is 1 mile from Interstate 95 and the surrounding area has several retail and dining options, including St. Johns Commons.
Walker & Dunlop arranged the deal. The brokerage team included Managing Directors Brian Moulder and Dhaval Patel.