{"id":1004074048,"date":"2013-05-17T07:13:30","date_gmt":"2013-05-17T15:13:30","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=126974"},"modified":"2020-05-12T00:05:20","modified_gmt":"2020-05-12T08:05:20","slug":"elco-landmark-partners-in-acquisition-of-four-multifamily-properties","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/","title":{"rendered":"Elco Landmark Partners in Acquisition of Four Multifamily Properties"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">Four garden-style multifamily properties in San Antonio and the Austin submarket of Round Rock have been acquired by a newly formed partnership between Elco Landmark Apartment Trust Holdings LLC, DeBartolo Development LLC and LEM Capital. The combined price is of approximately $44 million.<\/p>\n<p style=\"text-align: justify;\">The four communities total 771 units with a 95 percent occupancy level. Amenities include a clubhouse, swimming pool, spa\/hot tub, tennis courts, picnic areas, fitness center and laundry facility. Renovation and repositioning programs are planned in order to improve the physical structure and aesthetics of the properties, as well as to increase the value and financial gain opportunities.<\/p>\n<p style=\"text-align: justify;\">The former Hampton North, today Landmark at Amelia Ridge, is located at 1500 Lawnmont Dr. in Round Rock, Texas. It has 188 units that were built in 1985. Landmark at Auburn Manor was known before acquisition as Vista Ridge and is located at 1200 South Mays St., also in Round Rock. Its 200 units were built in 1984.<\/p>\n<p style=\"text-align: justify;\">The other two residential communities\u2014Landmark at Atrium Commons and Landmark at Stratton Park\u2014are located in San Antonio and were built in 1983 and 1985, containing 256 and 127 units, respectively.<\/p>\n<p style=\"text-align: justify;\">\u201cThe acquisition of these assets is another example of our unique ability to source attractive investment opportunities in high-growth metropolitan markets located across the South,\u201d said Joseph Lubeck, CEO of Elco Landmark Residential. \u201cWe look forward to leveraging our redevelopment and repositioning expertise to improve the quality of each asset, creating an enhanced living environment for tenants while allowing us to capture unrealized cash flow potential.\u201d <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Anca99808.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-126979\" title=\"Anca99808\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/Anca99808.jpg\" alt=\"\" width=\"300\" height=\"305\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Elco Landmark Residential is a real estate investment firm headquartered in Tampa, Fla. that manages and owns interests in 17,762 units from 59 multifamily properties spread across the Southeastern part of the country. The company\u2019s mission is to purchase mid-income multifamily properties below market value and reposition them on the South market where they have competitive advantage and plenty of expertise. DeBartolo Development LLC is one of the largest privately owned real estate development companies in the country, and LEM Capital is a real estate fund manager.<\/p>\n<p style=\"text-align: justify;\"><em> Chart courtesy of <a href=\"https:\/\/www.marcusmillichap.com\/\" rel=\"nofollow\" >Marcus &amp; MIllichap<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Four garden-style multifamily properties located in the Austin submarket of Round Rock and San Antonio have been acquired by a newly formed partnership between Elco Landmark Apartment Trust Holdings LLC, DeBartolo Development LLC, and LEM Capital. The combined price is of approximately $44 million.<\/p>\n","protected":false},"author":237,"featured_media":1004505665,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[],"class_list":["post-1004074048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Elco Landmark Partners in Acquisition of Four Multifamily Properties - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elco Landmark Partners in Acquisition of Four Multifamily Properties\" \/>\n<meta property=\"og:description\" content=\"Four garden-style multifamily properties located in the Austin submarket of Round Rock and San Antonio have been acquired by a newly formed partnership between Elco Landmark Apartment Trust Holdings LLC, DeBartolo Development LLC, and LEM Capital. The combined price is of approximately $44 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-17T15:13:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T08:05:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Anca99808.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Elco Landmark Partners in Acquisition of Four Multifamily Properties\",\"datePublished\":\"2013-05-17T15:13:30+00:00\",\"dateModified\":\"2020-05-12T08:05:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/\"},\"wordCount\":351,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Anca99808.jpg\",\"articleSection\":[\"Austin\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/\",\"name\":\"Elco Landmark Partners in Acquisition of Four Multifamily Properties - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Anca99808.jpg\",\"datePublished\":\"2013-05-17T15:13:30+00:00\",\"dateModified\":\"2020-05-12T08:05:20+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Anca99808.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Anca99808.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Elco Landmark Partners in Acquisition of Four Multifamily Properties\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/anca-gagiuc\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Elco Landmark Partners in Acquisition of Four Multifamily Properties - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/","og_locale":"en_US","og_type":"article","og_title":"Elco Landmark Partners in Acquisition of Four Multifamily Properties","og_description":"Four garden-style multifamily properties located in the Austin submarket of Round Rock and San Antonio have been acquired by a newly formed partnership between Elco Landmark Apartment Trust Holdings LLC, DeBartolo Development LLC, and LEM Capital. The combined price is of approximately $44 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2013-05-17T15:13:30+00:00","article_modified_time":"2020-05-12T08:05:20+00:00","og_image":[{"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Anca99808.jpg?w=1024","width":1024,"height":1024,"type":"image\/jpeg"}],"author":"Anca Gagiuc","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/"},"author":{"name":"Anca Gagiuc","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"headline":"Elco Landmark Partners in Acquisition of Four Multifamily Properties","datePublished":"2013-05-17T15:13:30+00:00","dateModified":"2020-05-12T08:05:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/"},"wordCount":351,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Anca99808.jpg","articleSection":["Austin","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/","url":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/","name":"Elco Landmark Partners in Acquisition of Four Multifamily Properties - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Anca99808.jpg","datePublished":"2013-05-17T15:13:30+00:00","dateModified":"2020-05-12T08:05:20+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Anca99808.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Anca99808.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/elco-landmark-partners-in-acquisition-of-four-multifamily-properties\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Elco Landmark Partners in Acquisition of Four Multifamily Properties"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7","name":"Anca Gagiuc","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","caption":"Anca Gagiuc"},"description":"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Anca99808.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004074048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/237"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004074048"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004074048\/revisions"}],"predecessor-version":[{"id":1004435860,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004074048\/revisions\/1004435860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004505665"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004074048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004074048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004074048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}