Florida’s commercial real estate market continues to see robust activity as major investment firms execute strategic acquisitions and portfolio expansions. Recent moves by American Landmark Apartments and NexPoint highlight the ongoing demand for multifamily and hospitality assets across the state, signaling continued confidence in Florida’s long-term economic growth and resilience.
Key takeaways
- American Landmark acquired the 214-unit Savona Grand apartment complex in Palm Beach County.
- NexPoint launched an $81.6 million Delaware statutory trust (DST) featuring a hotel in Bradenton-Sarasota.
- Both firms are prioritizing value-add opportunities and strategic asset management to enhance long-term performance.
American Landmark expands multifamily footprint
Tampa-based American Landmark Apartments has strengthened its presence in South Florida with the acquisition of Savona Grand, a 214-unit apartment community located between Boynton Beach and Lake Worth Beach. The 13-acre property, which was completed in 2003, features a diverse range of amenities, including a fitness center, pool, clubhouse, and various sports courts. This acquisition marks the firm’s fourth property in South Florida and brings its total Florida holdings to 21 communities.
American Landmark intends to implement a series of upgrades to the apartment complex to improve the resident experience and property value. The site is strategically located near major transportation arteries, such as Florida’s Turnpike and Interstate 95, as well as key local institutions like Palm Beach State College and HCA Florida JFK Hospital.
NexPoint diversifies hospitality holdings
NexPoint has introduced its latest investment vehicle, the NexPoint Lodging II DST, an $81.6 million Delaware statutory trust offering. The portfolio includes two hotel properties, notably the Courtyard by Marriott Bradenton–Sarasota Riverfront in Florida, alongside an extended-stay property in Connecticut. This move expands NexPoint’s hospitality platform, which is designed to provide 1031 exchange investors with access to institutional-grade real estate.
Management of the properties will be handled by Dreamscape Hospitality, a Dallas-based operator with a national footprint of over 30 branded hotels. NexPoint has announced plans for further renovations at the Bradenton-Sarasota location, aiming to enhance common areas and guestrooms to strengthen the asset’s competitive position in the local market.
Strategic outlook for Florida
Investors remain bullish on Florida due to consistent population growth and a constrained supply of new inventory in key markets. Elizabeth Roy, chief investment officer at American Landmark, noted that Palm Beach County continues to attract residents and employers at a pace that few other regions can match. By focusing on well-located assets with potential for operational improvements, firms like American Landmark and NexPoint are positioning themselves to capitalize on the state’s sustained economic momentum.
Sources
- American Landmark Apartments Buys Palm Beach County Complex, The Real Deal.
- NexPoint Launches $81.6M Hospitality DST Featuring Connecticut, Florida Hotels, https://www.connectmoney.com/.