BIRMINGHAM, AL --- Hendricks & Partners, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the sale of Highland Ridge Apartments, a 66-unit apartment community located in Birmingham, for $2.075 million.
David Oakley (top right photo), senior investment advisor of Hendricks & Partners Alabama office negotiated the sale representing both the seller, Cedar Tree Properties, LLC, based in Birmingham, as well as the buyer, Highland Ridge I, LLC, also based in Birmingham.
The buyer has already begun extensive renovations after renaming the community, Element 26. Upgrades include all new appliances, counter tops, flooring, hardware, and fixtures. Renovation estimates total nearly $800,000.
Highland Ridge, built in 1970, has a total of 21,218 square feet of rentable living space.
For more information, contact:
David Oakley, Senior Investment Advisor, Hendricks & Partners - Alabama, 205.918.0785, doakley@hpapts.com.
Hendricks & Partners Negotiates $6.26 million sale of Silver Pines Apartments in Pine Hills, FL
ORLANDO, FL--- Hendricks & Partners, one of the nation’s largest and most active multi-family investment banking and research companies, recently negotiated the sale of the 240-unit Silver Pines Apartments at 5402 Pine Chase Drive in Orlando for $6.26 million.
Cole Whitaker (lower right photo), partner and director of the Southeast Division of Hendricks & Partners, negotiated the sale with associate partner Hal Warren (lower left photo) in Orlando and senior investment advisor Jason Stanton in the firm’s Tampa office.
Hendricks & Partners represented a Dallas based Special Servicer. The buyer was not disclosed.
Built in 1995 Silver Pines features two and three bedroom garden style apartments with an average monthly rent of $704 and an average of 1,134 square feet of living space.
For more information, contact:
Jason T. Stanton CCIM, Senior Investment Advisor, Hendricks & Partners, 727-674-4097; jstanton@hpapts.com
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