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High-dollar apartment deals reach Hillsborough with $75M sale
High-dollar apartment deals reach Hillsborough with $75M sale
August 22, 2022

Investor interest in high-dollar apartment deals in the Triangle hit Hillsborough this week when a Florida company snagged a property south of downtown.


On Wednesday, Tampa-based American Landmark Apartments closed on a $75.5 million deal for the 270-unit Cadence at Cate’s Creek apartments, in a deal breaking down to $279,629.63 per unit.


The property is situated on 21 acres at 100 Waterstone Park Circle across the street from the Cate’s Creek Park.

The seller, an LLC addressed to Ardmore Residential of Greensboro, paid $2 million for the land before building the apartments. Competed in 2017, the apartments feature a mix of one-, two- and three-bedroom units spread across 3-story buildings. Rents range from $1,213 a month for smaller units to as high as $2,419 a month for larger ones, according to Apartments.com.


Amenities at the apartments include a pool, picnic area and walking and biking trails, among others.

While Orange County hasn't seen as high of a sales volume for multifamily properties as neighboring Wake and Durham, it has seen an influx in high-dollar sales in recent years. Last fall, Greensboro investment firm Bell Partners paid $85.25 million for the 272unit Bell Chapel Hill apartment complex in Chapel Hill. And an LLC in care of New

York-based Abacus Capital Group paid $93 million for the 323-unit Trilogy Chapel Hill apartments.

   

 

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Triangle Business Journal, where you'll find the latest breaking business news, updated throughout the day, this week's top stories from the Triangle Business Journal, and other popular features from the print edition.

UVPM: 605, 534

Hillsborough apartments sell for $75M as market demand spreads

- Triangle Business Journal (bizjournals.com)



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By Devin & Ciana Work Joint October 6, 2025
American Landmark Apartments, one of the nation’s leading multifamily owner-operators, has acquired Rosemont St. Johns, a 420-unit apartment community in Jacksonville, Florida. Built in 2007, the property will be rebranded under the American Landmark portfolio and marks a strategic addition to the firm’s growing presence across Florida. The acquisition reflects American Landmark’s confidence in Jacksonville’s surging multifamily market. “Rosemont St. Johns represents an exciting opportunity to expand our footprint in one of Florida’s fastest-growing cities,” said Christine DeFilippis, Chief Investment Officer at American Landmark Apartments. “Jacksonville’s consistently strong job growth, expanding population, and reputation as one of the most affordable large metros in Florida make it a compelling market for long-term investment. The property’s strategic location and premium amenities position Rosemont St. Johns as a compelling addition to our portfolio.” Situated at 12310 Seacrest Lane, Rosemont St. Johns offers a vibrant living environment with thoughtfully designed one-, two-, and three-bedroom residences featuring spacious floor plans and modern finishes. Community amenities include a resort-style swimming pool with expansive sundeck, a stylish clubhouse with resident lounge and entertainment kitchen, a 24-hour fitness center, outdoor grilling and picnic areas, and a dedicated dog park, all of which are designed to deliver comfort, convenience, and a sense of community. The property’s prime location in Jacksonville’s Southside submarket provides direct access to major employment hubs, retail corridors, and lifestyle destinations. With proximity to the University of North Florida, St. Johns Town Center, and Jacksonville Beach, Rosemont St. Johns offers residents the ideal blend of suburban tranquility and urban accessibility. This acquisition underscores American Landmark’s strategy of targeting high-growth Sunbelt markets where strong demographics, affordability, and lifestyle amenities continue to fuel multifamily demand. For more information on American Landmark, please visit http://www.alapts.com/. z To read more on this artice, visit citybiz here .
By Devin & Ciana Work Joint October 6, 2025
The Legend will be one of three properties in San Antonio that will be part of American Landmark Apartments' Educator-in-Residence pilot program.
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