American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired Palmette Pointe Apartments, a 328-unit apartment community located in the northwest section of San Antonio, Texas, in the city’s Medical Center submarket. This is American Landmark’s seventh property under management in San Antonio.
So far this year, American Landmark has acquired more than $1.3 billion in apartment communities throughout the Sunbelt.
“Measured development of new apartments over the past decade, combined with strong overall job growth, has made San Antonio’s multifamily market increasingly attractive for investors,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “Palmetto Pointe in particular benefits from a terrific location directly on the VIA Metropolitan Transit bus route, across from USAA corporate campus, and within five minutes of the South Texas Medical Center, which boasts nine major medical institutions and hundreds of medical offices that employ over 30,000 professionals.”
Built in 2020, Palmetto Pointe is a gated community located at 4835 USAA Boulevard. The property consists of one- and two-bedroom apartments ranging in size from 653 square feet to 1,451 square feet. Individual apartments feature gourmet kitchens with quartz countertops and stainless-steel appliances, walk-in closets, garden-style bathtubs, private patios and balconies, and full-sized laundry appliances. Community amenities include a resort-style swimming pool with cabanas and outdoor fireplace, clubhouse with state-of-the-art fitness center, business center, internet café, and luxurious entertainment room with Billiards and flat screen TVs.
Located just 20 minutes from downtown San Antonio, the property is just five minutes from the city’s numerous medical facilities at the South Texas Medical Center, 15 minutes from the University of Texas at San Antonio, and close to major shopping and tourist destinations including Topgolf and Fiesta Six Flags.