Tampa apartment giant buys two Brandon complexes totaling 455 units

Tampa-based American Landmark Apartments has bought a pair of communities in Brandon it plans to combine, rename and spend $7 million to upgrade.

The properties, known as Courtney Trace and The Addison, will be branded as The Griffin.

American Landmark announced the buys Monday but did not disclose a purchase price and a spokesperson did not respond to multiple questions about the transaction.

Hillsborough County records had not been updated to reflect the sale Monday afternoon.

County property records show both properties are owned through LLCs by Westerville, Ohio multifamily investor White Oak Partners.

The 167-unit Addison was bought in February 2018 for $28 million, and the 288-unit Courtney Trace was bought the same month for $46.25 million, county records show.

The two complexes are off of Lumsden Road near Interstate 75 in Brandon and across Providence Lake Boulevard from each other.

According to the statement, the combined properties will have 455 units ranging from an 822-square-foot one bedroom to a 1,354-square-foot three bedroom.

Monthly rental prices weren’t posted on the community’s website — which has been updated to reflect the new name — Monday. But according to apartments.com, monthly rent for the community is between $1,540 per month and $3,146 per month.

As part of the new ownership, American Landmark says it will invest the $7 million into upgrades. Among those are “substantial renovations” to units including upgraded kitchen and bathroom cabinetry, granite countertops, new appliances, LED lighting throughout, electronic locks and Wi-Fi enabled thermostats.

American Landmark, according to its website, currently owns about 36,000 apartment units across the southern U.S. and has $6 billion in gross asset value under management.

The company says in the statement that “this acquisition adds to the 30 deals currently under ownership/management in” the state of Florida.