American Landmark Apartments Acquires 214-Unit Savona Grand in Lake Worth

American Landmark Apartments has acquired Savona Grand, a 214-unit multifamily community at 7132 Colony Club Drive in Lake Worth, Palm Beach County. Built in 2003, Savona Grand consists of a mix of one-, two-, and three-bedroom apartments. Residential units are equipped with washers and dryers, dishwashers, walk-in closets, and private patios or balconies. Community amenities include a resort-style swimming pool with sundeck, a fitness center, clubhouse, basketball and tennis courts, a pickleball court, dog park, and gated access.

The property is positioned with access to Florida’s Turnpike and Interstate 95, both located within approximately 15 minutes of the community. Nearby destinations include HCA Florida JFK Hospital, Palm Beach State College, and Palm Beach County Park/Lantana Airport, each located within roughly 10 minutes of the site.

According to the developer, the acquisition expands American Landmark Apartments’ South Florida portfolio to four properties and increases its statewide holdings to 21 apartment communities. The acquisition aligns with the firm’s strategy of investing in well-located multifamily communities across high-growth Sun Belt markets supported by favorable demographic trends and strong long-term economic fundamentals. The company cited Palm Beach County’s sustained population growth and continued expansion in sectors including financial services, healthcare, logistics, and professional services as contributing factors supporting long-term apartment demand in the region.

“South Florida is one of our highest-conviction markets, and Savona Grand deepens our footprint at exactly the right time,” said Elizabeth Roy, Chief Investment Officer at American Landmark Apartments. “Palm Beach County continues to attract residents and employers at a pace few markets can match, yet new supply remains constrained. Savona Grand sits in an established submarket minutes from major employment centers, and our value-add platform gives us a clear path to elevate the community for residents while driving performance for our investors.”

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