April 20, 2020
Tampa-based American Landmark Apartments acquired Sentosa Beachwalk, a brand new 348-unit multifamily community in Jacksonville, for a reported $79.5 million. The community in the Saint John’s suburb will be renamed The Elysian.
American Landmark’s Christine DeFilippis says, “We remain bullish on the long-term prospects for Jacksonville and other cities in the Southeast, which we anticipate will recover quickly once the country re-opens for business.”
Walker & Dunlop’s Brian Moulder and Dhaval Patel brokered the transaction. The seller was reportedly Sentosa Beachwalk Apartments LLC, an entity managed by Boca Raton-based Falcone and Associates LLC.
Built in 2019, Sentosa Beachwalk is located at 65 Sentosa Drive. One, two and three-bedroom units include spacious floor plans, granite counter tops, stainless steel appliances and smart thermostat and light controls. Community amenities include a 24/7 fitness center, fireside lounge, resort-inspired swimming pool, volleyball courts, playgrounds and laundry and dry cleaning.
The acquisition boosts American Landmark’s portfolio to 30,000 units throughout the Southeast, with four communities in the Jacksonville MSA.
For comments, questions or concerns, please contact Dennis Kaiser