Wednesday, February 26, 2014

MHA Brokers Sale of Two Montgomery, AL Apartment Complexes; Beech Street Capital arranges acquisition financing.

  
Bell Station Apartments, Montgomery, AL

  
Jimmy Adams
MONTGOMERY, AL (Feb. 26, 2014) — Multi Housing Advisors (MHA) has brokered the  sale of the 224-unit Bell Station and the 28-unit Watchman Court, located at 3201 and 3301 Watchman Dr., respectively, in Montgomery, Ala.

 Combined, the contiguous properties were 93 percent leased at the time of the sale.

Jimmy Adams of MHA’s Birmingham, Ala., office represented the sellers, Tritex Real Esate Advisors and Watchman Court, Ltd., and was the only broker involved in the deal. EBSCO Watchman Dr. LLC was the buyer.

“The sale of Watchman Court and Bell Station shows that investors are more receptive today to acquiring assets in non-core markets like Montgomery,” Adams said. “We expect to see a significant uptick in sales this year throughout Alabama and Mississippi.”   

Chad Hagwood of Beech Street Capital, LLC, arranged a Freddie Mac loan for the buyer.

This is the first transaction closed since Beech Street Capital and MHA formed their alliance.

Chad Hagwood
Through their agreement, Beech Street Capital’s clients gain direct access to local broker intelligence, and MHA’s clients gain direct access to capital markets, providing a more efficient transaction process.

The goal is to help investors use that intelligence to identify desirable properties and, more importantly, to provide the well-integrated transactional and financial support investors need to seize these opportunities quickly.

Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast.

Since that time, MHA has created value for clients in virtually every sector of the multi-housing market.

The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.
  
For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)


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