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American Landmark Acquires Arizona Community
American Landmark Acquires Arizona Community
October 18, 2022

This purchase marks the company's second in the state this year.

Multifamily owner-operator American Landmark Apartments has acquired Cabana 99th, a new apartment community in Glendale, Ariz. Located at 10000 W. Missouri Ave., the 286-unit apartment community is being renamed The Lotus. It is the company’s second Arizona acquisition this year, after June’s purchase of The Access Apartments.


Completed this year, The Lotus provides studio, one- and two-bedroom apartments extending in size from 468 to 828 square feet. Features and finishes of the residences include full-size washers and dryers, 9-foot ceilings, wood-style vinyl plank flooring, energy-efficient windows and, in select apartments, workstation desks. Among the community’s common-area amenities is an outdoor fitness space.


The community’s 19 three-story wood-frame buildings are spread across a more than 10-acre site. The property was 93.7 percent occupied at the time of the acquisition.


“The main challenge was the volatility in the debt market,” Christine DeFilippis, chief investment officer of American Landmark Apartments, told Multi-Housing News. “Indexes rose significantly and very quickly while under contract. We were able to place suitable debt with hedge as the property quickly completed lease up and achieved stabilized occupancy during the contract term.”


Antique capital


The Lotus is located in a neighborhood within Glendale called Westside. A number of parks, recreation areas and shopping destinations are located near the apartment community. The parks include Maryvale Park, Glendale Heroes Regional Park and Grand Canal Linear Park. Columbia Plaza, Camelback 101 Plaza and Agua Fria Towne Center are prominent retail centers within a 20-minue walk.



Downtown Phoenix and Sky Harbor International Airport are situated a 25-minute drive away. Earlier this month, American Landmark acquired the 400-unit Element at Stonebridge in Richmond, Va.



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By Devin & Ciana Work Joint August 20, 2026
In this podcast hosted by MHN's Laura Valean, Elizabeth Roy discusses shifting supply dynamics and what she’s watching as multifamily moves into its next investment cycle.
By Devin & Ciana Work Joint August 20, 2026
American Landmark Apartments , one of the nation’s leading multifamily investment managers and owner-operators, has acquired Park Avenue at Boulder Creek, a 292-unit apartment community located in Houston, Texas. The property will be the firm’s 14th asset in the Houston area and rebranded as Toscana Parkway, further expanding American Landmark’s Texas portfolio while strengthening the firm’s presence in one of the nation’s fastest-growing metropolitan areas. Located in southeast Houston adjacent to Pearland, the community benefits from the continued economic and population growth of the Greater Houston metropolitan area, which surpassed 7.9 million residents in 2025 after adding 126,720 new residents, marking the largest population gain of any U.S. metropolitan area (Greater Houston Partnership). The region’s diverse economy is anchored by nationally recognized healthcare, energy, aerospace, manufacturing and logistics industries, creating sustained demand for high-quality multifamily housing. Major employment centers including the Texas Medical Center, Port Houston and NASA’s Johnson Space Center continue to support the region’s long-term economic strength. “Houston continues to distinguish itself as one of the nation’s strongest multifamily investment markets because of its population growth, diverse employment base and long-term economic resilience,” said Elizabeth Roy , Chief Investment Officer at American Landmark Apartments. “Toscana Parkway is a well-located community with direct highway connectivity and immediate access to the retail and everyday amenities residents value. With no new deliveries in the submarket, we see a clear opportunity to invest behind the property’s fundamentals—executing the first capital improvement program since the community was built and bringing American Landmark’s operational expertise and value-add approach to enhance the resident experience for years to come.” Built in 2009, Toscana Parkway offers a mix of one-, two- and three-bedroom apartment homes and has not undergone a major capital renovation since its original construction, presenting a clear value-add opportunity. Community amenities include a resort-style saltwater swimming pool, fitness center, sauna, clubhouse, business center, volleyball court, children’s playground and poolside grilling areas. Apartment homes feature spacious floor plans with stainless steel appliances, island kitchens, dishwashers, crown molding, walk-in closets, and private patios or balconies. Located at 11575 Pearland Pkwy, Toscana Parkway offers residents highly accessible connectivity and a deep base of nearby retail. Sam Houston Pkwy is less than five minutes away, providing direct access to Interstate 45 and State Hwy 288 and seamless connectivity throughout the Houston metropolitan area. The community sits approximately 15 minutes from William P. Hobby Airport, 20 minutes from the Texas Medical Center—the largest medical center in the world—and less than 30 minutes from Downtown Houston, with abundant shopping, dining and daily-needs retail within immediate reach. With limited new supply delivered in the submarket, the property is well positioned to capture sustained rental demand. The acquisition aligns with American Landmark’s strategy of investing in well-located multifamily communities across high-growth Sun Belt markets supported by favorable demographic trends and strong long-term economic fundamentals. For more information on American Landmark, please visit www.alapts.com About American Landmark American Landmark is an institutional investment manager and vertically integrated multifamily platform that owns and operates more than 36,000 units comprising more than $7 billion in gross asset value under management. Over 30 years and 100,000 units, American Landmark has focused on the disciplined acquisition and management of value-add multifamily properties located in high-growth markets across the U.S. Sunbelt, including Florida, Texas, Georgia, North Carolina, South Carolina, Tennessee, Arizona, and Virginia. American Landmark is committed to providing excellent service and outstanding living environments to residents and to delivering consistent, attractive risk-adjusted returns to its investors and partners. The firm has been recognized as a top multifamily owner and workplace, including rankings as #27 on the NMHC Top 50 Largest Apartment Owners (2026) and #82 on the PERE 100 list of the largest private equity real estate managers (2026), as well as designations as a Freddie Mac Multifamily Optigo Select Sponsor (2026) and a USA Today Top Workplace (2025). For more information, please visi t www.alapts.com .
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