American Landmark Acquires Cabana 99th Apartments in Arizona’s Ancient Capital
American Landmark Apartments, one of the nation’s fastest growing multi-family owner-operators, announces that it has acquired Cabana 99th, a brand new 286-unit apartment community located in Glendale, Arizona, just outside the Phoenix metro area. The property has been renamed The Lotus.
This is the company’s second acquisition in Arizona this year, following The Access Apartments in July.
“Phoenix, Arizona is a leading multifamily investment market due to its growing population and favorable demographics that are similar to markets where American Landmark has longevity,” said Christine DeFilippis, chief investment officer of American Landmark. “We are delighted to acquire two new assets in one month in Phoenix and look forward to future investments 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. Apartments feature a dishwasher, full size washer and dryer, large energy efficient windows, stainless steel appliances, nine foot high ceilings, stylish vinyl plank floors wood and desks in some units. The brand new community includes a wide range of amenities such as a swimming pool, flashing electric vehicle charging stations, garden with hammocks, keyless entry locks, monthly resident events, entertainment center business, a multipurpose lawn, an outdoor fitness area, secure bike storage and an outdoor BBQ area.
The property is located in Westside, a neighborhood of Glendale, which was voted an Arizona Neighborhood ancient capital by sunset magazine and USA today. The community is near many parks and shopping centers 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.