Landmark Apartment Trust of America Fuels Growth with $443 Million Investment

- Adds considerable scale to portfolio bringing total number of units owned to approximately 24,000 -

- Strengthens position as one of the premier multifamily operators in the Southern United States -

- Brings total 2013 acquisitions to more than $1 billion -

TAMPA, Fla.--()--Landmark Apartment Trust of America, Inc. (the “Company”) today announced it has acquired 13 apartment communities and seven joint venture ownership interests in apartment communities throughout the Southern U.S. for a total investment of approximately $443 million in the fourth quarter. Collectively, the communities contain 7,261 units and are 94 percent occupied. The Company’s total 2013 acquisition activity includes 50 communities containing 15,868 units, representing approximately $1.04 billion in transaction value.

The Company also acquired two additional communities containing 528 units in total in the fourth quarter on behalf of Timbercreek U.S. Multi-Residential Opportunity Fund #1 in conjunction with its investment partner Timbercreek Asset Management Inc. At closing the Company became property manager of the two communities, bringing the total number of properties it manages to 103 communities containing more than 32,000 units.

“This year marks one of the strongest in our operating history,” said Stanley J. Olander, chief executive officer of Landmark Apartment Trust of America. “Our success has been driven by the experience of our management team and our straightforward acquisition strategy that focuses on select Sunbelt metropolitan markets poised for sustained economic growth. We are pleased to end the year on a positive trajectory and remain focused on expanding our portfolio in 2014.”

“Since completing the recapitalization in late 2012, our goal was to add meaningful scale to the portfolio by prudently deploying capital to purchase apartment communities that provide stable cash flows in markets characterized by strong employment and demographic fundamentals,” said Joseph Lubeck, executive chairman of Landmark Apartment Trust of America. “In 2013, we have demonstrated an impressive track record of success and are well positioned to carry out our strategic initiatives in the future.”

A list of the twenty apartment communities the Company has acquired or agreed to acquire in the fourth quarter can be found below:

    Property Name     Location     # of Units
Landmark at Rosewood Dallas, Texas 232
Landmark at Sutherland Park Plano, Texas 480
Landmark at Collin Creek Plano, Texas 314
Landmark at Lake Village North Garland, Texas 848
Landmark at Lake Village East Garland, Texas 329
Landmark at Lake Village West Garland, Texas 294
Landmark at Laurel Heights Mesquite, Texas 286
Landmark at Courtyard Villas Mesquite, Texas 256
Landmark at Grayson Park Tampa, Fla. 408
Landmark at Avery Place Tampa, Fla. 264
The Fountains Palm Beach Gardens, Fla. 542
Landmark at Woodland Trace Casselberry, Fla. 384
Landmark at Maple Glen Orange Park, Fla. 358
Landmark at Waverly Place Melbourne, Fla. 208
Landmark at Deerfield Glen Hoover, Ala. 320
Landmark at Lancaster Place Calera, Ala. 240
Landmark at Bella Vista Duluth, Ga. 564
Landmark at Grand Oasis Suwanee, Ga. 434
Landmark at Coventry Pointe Lawrenceville, Ga. 250
Landmark at Chesterfield Charlotte, N.C. 250
 

The two properties acquired on behalf of Timbercreek U.S. Multi-Residential Opportunity Fund #1 are as follows:

    Property Name     Location     # of Units
Landmark at Lake Ellenor Orlando, Fla. 296
Landmark at Alexander Pointe Orange Park, Fla. 232
 

Landmark Apartment Trust of America currently owns a total of 69 properties located throughout Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, Texas and Virginia.

About Landmark Apartment Trust of America, Inc.:

Landmark Apartment Trust of America, Inc. is a Tampa, FL-based real estate investment trust (REIT) that owns and operates more than 20,000 apartment units, and provides management services for an additional 12,000 units owned by affiliates, located throughout the Southern United States. The Company aims to unlock hidden value and unrealized cash flow through the below market acquisition and repositioning of mid-income multifamily properties in targeted Southern markets, where the management team can apply its expertise to create a competitive advantage. For more information about Landmark Apartment Trust of America, Inc. please visit http://www.latapts.com/.

Contacts

ICR
Investors:
Stephen Swett, 203-682-8377
Stephen.Swett@icrinc.com
Rodny Nacier, 646-277-1237
Rodny.Nacier@icrinc.com
or
Media:
Jason Chudoba, 646-277-1249
Jason.Chudoba@icrinc.com
Hayley Cook, 203-682-8254
Hayley.Cook@icrinc.com

Contacts

ICR
Investors:
Stephen Swett, 203-682-8377
Stephen.Swett@icrinc.com
Rodny Nacier, 646-277-1237
Rodny.Nacier@icrinc.com
or
Media:
Jason Chudoba, 646-277-1249
Jason.Chudoba@icrinc.com
Hayley Cook, 203-682-8254
Hayley.Cook@icrinc.com