Monday, November 9, 2015

Berkadia Closes on 315 Units in Birmingham, AL for $29.2 Million

David Oakley
BIRMINGHAM, AL --- Berkadia recently negotiated the sale of Stonecrest at Double Oak Mountain, a 315-unit apartment community located in Birmingham, for $29,200,000.

David Oakley, Managing Director, and Royce Emerson, Senior Director, in Berkadia’s Alabama office represented the seller, Rodman Properties.

Built in 1998, Stonecrest at Double Oak Mountain is a garden-style community with two- and three-story buildings on 26.47 acres with a density of 12 units per acre and an average unit size of 1,176 square feet.

The buyer is Waypoint Residential, based in Atlanta.  

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry-leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

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