American Landmark Apartments has acquired Preserve at Mill Creek, a 400-apartment community in Buford.
The acquisition brings the institutional investor’s Atlanta portfolio to nine properties. In April, American Landmark purchased the 276-unit Tramore Village community in Austell. American Landmark did not disclose the purchase price, but the 34-acre property was most recently assessed at $85.125 million and last sold for $75 million in 2019, according to Gwinnett County records.
“Preserve at Mill Creek represents a well-located, value-add opportunity in a submarket that continues to demonstrate strong fundamentals,” American Landmark CEO Joe Lubeck said. “Buford and the broader Northeast Atlanta submarket benefit from sustained population growth and strong retail and employment infrastructure. This acquisition aligns with our strategy of investing in established communities where we can enhance long-term value through disciplined asset management and operational execution.”…