Atlanta-based Prestwick Development sold the newly constructed 294-unit Cadence apartment complex in Sugar Hill to Irvine, California, multifamily landlord Passco Companies for an undisclosed amount. 

Courtesy of Google Maps.

Cadence, which opened earlier this year, has a mix of one-, two- and three-bedroom apartments. Community amenities include a 24-hour fitness center, yoga studio, resort-style pool with cabanas and sundeck and a cyber lounge.  

Cushman & Wakefield’s Executive Vice Chair Robert Stickel and Executive Director Alex Brown represented Prestwick in the transaction. 

“The Sugar Hill market has been an attractive area for investors with its substantial job and population growth, as well as an exceptional town center environment,” Brown said. “The Cadence property will directly benefit from the market’s supply and demand dynamic and is primed for substantial rent growth.” 

Monthly rents range from $2,170 for a 745-square foot, one-bedroom unit to $2,938 for a 1,438-square-foot, three-bedroom unit. 

Cadence is located at 1270 Hillcrest Dr. and is within walking distance of Sugar Hill’s new E-Center, a 150,000-square-foot mixed-use facility in the city’s central business district. 

“Prestwick Development delivered a thoughtful vision with this high-visibility, first-class addition to this growing, vibrant North Atlanta suburb,” Stickel said. “They worked collaboratively with the city of Sugar Hill to create an exceptional multifamily community in this highly desirable submarket’s town center.” 

The complex features an outdoor lounge with a fire pit and gaming lawn. Courtesy of Cadence.