# TriGate Capital sells the American Can Apartments located in New Orleans, LA — TriGate Capital By TriGate Capital. Published 2023-03-31. > TriGate Capital, in partnership with Audubon Communities and BLT Green Hollow, sold the American Can Apartments in March 2023. The sale price of $68.4… [![TriGate Capital](https://www.trigatecapital.com/site-assets/logo-white.svg)](https://www.trigatecapital.com/atlas.html)Firm [Overview](https://www.trigatecapital.com/atlas-about.html)[Our people](https://www.trigatecapital.com/atlas-team.html)[Careers](https://www.trigatecapital.com/atlas-careers.html) Approach [Investment philosophy](https://www.trigatecapital.com/atlas-strategy.html)[Investment platforms](https://www.trigatecapital.com/atlas-vehicles.html)[Retail](https://www.trigatecapital.com/atlas-retail.html)[Residential](https://www.trigatecapital.com/atlas-residential.html)[Industrial](https://www.trigatecapital.com/atlas-industrial.html) [Investments](https://www.trigatecapital.com/atlas-portfolio.html)[News](https://www.trigatecapital.com/atlas-news.html)[Contact](https://www.trigatecapital.com/atlas-contact.html)[Existing partners](https://www.trigatecapital.com/atlas-investors.html)[in](https://www.linkedin.com/company/trigate-capital-llc/) [Home](https://www.trigatecapital.com/atlas.html)/TriGate Capital sells the American Can Apartments located in New Orleans, LA Residential # TriGate Capital sells the American Can Apartments located in New Orleans, LA Mar 31 2023 TriGate Capital, in partnership with Audubon Communities and BLT Green Hollow, sold the American Can Apartments in March 2023. The sale price of $68.4 million represented a 5.0% cap rate on adjusted NOI. TriGate Property Partners III, L.P. acquired the asset in March 2020 through a recapitalization of the existing ownership entity at a price of $48.6 million. The American Can Apartments are a 268-unit loft-style multifamily community with 22,000 sf of retail located in the rapidly improving Mid City area of New Orleans, LA. Built between 1907 and 1926 as a canning factory and warehouse, the Property was redeveloped in 2001 as a historically landmarked multifamily rental project. The original distressed maple hardwood flooring, floor-to-ceiling windows, and 13’-16’ high ceilings were all incorporated into the renovation making American Can one of the most unique apartments in New Orleans. Under TriGate’s ownership, American Can received an extensive capital improvement program to substantially upgrade the exterior façade and windows as well as significant common area upgrades. Approximately 20% of the units were completely upgraded with renovated units averaging 20% premiums as compared to unrenovated units. TriGate’s investment in American Can is congruent with TriGate’s strategy of recapitalizing quality commercial real estate assets and companies. Through its infusion of new equity and residential experience, the property was completely transformed in three short years and sold to a local sponsor aligned with institutional capital. [All news](https://www.trigatecapital.com/atlas-news.html)[Media & general inquiries](https://www.trigatecapital.com/atlas-contact.html) ![TriGate Capital](https://www.trigatecapital.com/site-assets/logo-white.svg) ## Explore [Our firm](https://www.trigatecapital.com/atlas-about.html)[Our approach](https://www.trigatecapital.com/atlas-strategy.html)[Investments](https://www.trigatecapital.com/atlas-portfolio.html)[Our people](https://www.trigatecapital.com/atlas-team.html) ## Connect [Contact the team](https://www.trigatecapital.com/atlas-contact.html)[Careers](https://www.trigatecapital.com/atlas-careers.html)[Existing partners](https://www.trigatecapital.com/atlas-investors.html)[LinkedIn](https://www.linkedin.com/company/trigate-capital-llc/) ## Dallas 1717 Main Street, Suite 2600 Dallas, Texas 75201 [214 220 2274](tel:+12142202274)[info@trigatecapital.com](mailto:info@trigatecapital.com) © 2026 TriGate Capital. All rights reserved. [Privacy Policy](https://www.trigatecapital.com/atlas-privacy-policy.html)[Terms of Use](https://www.trigatecapital.com/atlas-terms-of-use.html)[Sitemap](https://www.trigatecapital.com/atlas-sitemap.html)[Back to top](https://www.trigatecapital.com/atlas-news-trigate-capital-sells-the-american-can-apartments-located-in-new-orleans-la.html#page-start) ## Find your perspective. Search the firm, people and investments Start typing to explore this website. ## Your privacy This website counts visits with GXB's own analytics. It keeps random visit IDs, the time of your last visit, how you arrived and your display choice in this browser. It sets no cookies, stores no names, and uses no advertising or third-party tracking. Search operates on this device. Forms prepare an email for you to review; they do not send information automatically. External investor portals and links have their own privacy policies. No optional tracking is enabled here. ## Images & property sources The property tour on the Investments page follows one continuous geographic imagery pyramid from Earth to aerial views of each property area. The photographs in the cards show the actual investments. Green outlines follow visible site and building edges in the aerial imagery. Crossroads highlights both of its buildings; the property photograph shows Building 100. Aerial dates: Florida, 2023; Nolen Farm and Dallas, 2022. The Nolen Farm card uses a newer community photograph. Investment locations are based on TriGate’s closed-deal records across the United States. Property-tour dots match their aerial views. - Homepage video: aerial footage of TriGate investments, provided by TriGate Capital. - [Shops at Wiregrass — property information](https://www.trigatecapital.com/atlas-investment-shops-at-wiregrass.html) Property photography: TriGate Capital. - [Crossroads Distribution Center — property information](https://www.trigatecapital.com/atlas-investment-crossroads-jacksonville.html) Property photography: TriGate Capital. - [Nolen Farm — property information](https://suncrestreal.com/communities/nolen-farm/) Community photography: Suncrest Real Estate & Land. - [Uptown at Cole Park — property information](https://www.trigatecapital.com/atlas-investment-uptown-cole-park.html) Property photography: Uptown at Cole Park official gallery. - Regional imagery: [USGS / The National Map Imagery Only](https://basemap.nationalmap.gov/arcgis/rest/services/USGSImageryOnly/MapServer) (NASA Blue Marble: Next Generation, Landsat and, around Dallas, earlier USDA NAIP), a static composite. Every imagery level is color-matched to the level above it so the zoom stays continuous; regional views are blended toward the Earth map’s colors. - Aerial imagery: [USGS / The National Map and USDA NAIP](https://imagery.nationalmap.gov/arcgis/rest/services/USGSNAIPImagery/ImageServer). - Earth and cloud maps: [Solar System Scope](https://www.solarsystemscope.com/textures/), based on NASA imagery. [CC BY 4.0](https://creativecommons.org/licenses/by/4.0/). Rendered on a 3D globe with animated lighting and clouds.