**American Landmark Acquires Jacksonville Multifamily Property for $66.4M**
American Landmark Apartments has purchased the Rosemont St. Johns apartment community in Jacksonville, Florida, for $66.4 million. The seller in the transaction was Investcorp, which had acquired the property in December 2020 from RangeWater Real Estate for $72.8 million, according to data from Commercial Edge.
Following the acquisition, American Landmark has rebranded the community as Vinoy at St. Johns. Located at 12310 Seacrest Lane, the property was originally developed in 2007 and spans a 21-acre site.
The multifamily community features 16 three-story residential buildings comprising a total of 420 units. The unit mix includes 240 one-bedroom, 120 two-bedroom, and 60 three-bedroom apartments, with floor plans ranging from 756 to 1,376 square feet.
Vinoy at St. Johns offers a variety of shared amenities, including a swimming pool with sundeck, a clubhouse featuring a resident lounge and kitchen, a 24-hour fitness center, outdoor grilling and picnic areas, and a dog park. The complex also includes 840 grade-level parking spaces.
This acquisition expands American Landmark’s portfolio in the Jacksonville market and aligns with the firm’s strategy of investing in well-located, value-add multifamily assets across the Southeast.
