American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired Cabana 99th, a brand new, 286-unit apartment community located in Glendale, Ariz., just outside the Phoenix metropolitan area. The property has been renamed The Lotus.
This marks the company’s second acquisition in Arizona this year, following The Access Apartments in July.
“Phoenix, Arizona is a top multifamily investment market due to its growing population and favorable demographics which are similar to the markets where American Landmark has longevity,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “We are pleased to gain two new assets within a month in Phoenix and look forward to future investment in the area.”
Built in 2022 and located at 10000 W Missouri Avenue, The Lotus offers studio, one- and two-bedroom floor plans ranging from 468 to 828 square feet. The apartments feature a dishwasher, full-size washer and dryer, large energy-efficient windows, stainless steel appliances, high nine-foot ceilings, wood-style vinyl plank flooring and workstation desks in select units. The brand-new community includes a wide range of amenities such as a swimming pool, blink EV charging stations, a hammock garden, keyless entry locks, monthly resident events, a business center, a multi-purpose lawn, an outdoor fitness space, secured bike storage and an outdoor barbeque area.
The property is situated in Westside, a neighborhood within Glendale, which was voted Arizona’s Antique Capital by Sunset magazine and USA Today. The community is near numerous parks and shopping destinations, including Glendale Heroes Regional Park, Grand Canal Linear Park and Arrowhead Towne Center Mall. Just a 25-minute drive down the road, residents can find downtown Phoenix and Phoenix Sky Harbor International Airport.