Friday, October 23, 2015

Multi Housing Advisors Brokers Sale of 338-Unit Apartment Community in Mobile, AL

Jimmy Adams
BIRMINGHAM, AL  — Multi Housing Advisors (MHA) has arranged the $3.5 million sale of Orleans Place I & II, located in Mobile, Alabama.

Jimmy Adams of MHA’s Birmingham office represented the seller, Orleans Place Apartments, in the transaction. Varden Capital Properties (VCP) purchased the property.

“VCP plans to invest a significant amount of capital into the property’s interiors and exteriors,” Adams said. “There is pent-up demand for higher quality housing in the area and we anticipate the rehabilitated units being absorbed without issue.”  

Orleans Place I & II are located three blocks south of Mobile’s new Whole Foods development. The submarket has demonstrated strong rent and occupancy trends over the past five years.

For a complete copy of the company’s news release, please contact:

Deborah Rogers
Multi Housing Advisors

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