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DURHAM, N.C. — Virginia Beach, Va.-based Kotarides Developers has purchased 16 acres of land from a private seller to develop a 240-unit Class A apartment complex. The property, which is located 2 miles from Duke Hospital on Bertland Avenue in Durham, is part of the Croasdaile Country Club and Croasdaile Farm areas. John High of Trinity Partners Raleigh, N.C., office represented the seller.