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| Josh Jacobs |
BIRMINGHAM, AL ---
Berkadia, one of the nation’s largest and most active multifamily investment
banking and research companies, recently completed the sale of the Devonshire
Place and Sun Valley Apartments, a 332-unit multifamily property for
$14,110,000 or $42,500 per unit.
David Oakley,
managing director and Josh Jacobs,
investment sales associate in Berkadia’s Alabama regional office negotiated the
sale representing the New York-based seller of the apartments located at 2349
8th St. NW in Birmingham’s northwest corridor near Pinson and Center Point
submarkets.
Built in 1971 and 1974,
Devonshire Place and Sun Valley is a garden-style, two- and three-story
community situated on approximately 19.76 acres of land with a density of 16.60
units per acre and an average unit size of 1,043 square feet.
The property houses a
total of 346,260 square feet, offering a well-balanced unit mix of studio,
one-, two-, and three-bedroom floor plans ranging in size from 500 to 1,560
square feet.
The buyer was New
York-based Devonshire Apartments AL, LLC.
For a complete copy of the company’s news release,
please contact:
Larry Vershel or Beth
Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.
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