Monday, November 16, 2015

Berkadia negotiates $5.2 Million Sale of Apartment Community in Birmingham, AL area

Terrace31 Apartments, Little Mountain Circle, Pelham, AL

Josh Jacobs
Birmingham, AL – Berkadia Real Estate Advisors, one of the nation’s largest and most active multifamily investment sales companies, recently negotiated the $5.2 million sale price for Terrace31, a 79-unit apartment community on Little Mountain Circle in Pelham, Ala. 

Josh Jacobs, investment sales associate at Berkadia along with managing director David Oakley, negotiated the transaction representing the seller Birmingham-based Four Four Little Mountain, LLC.

Terrace31 was built in two phases in 1973 and 1998 and fully repositioned in 2014.

A Birmingham-based Purchaser paid $65,822 per unit for the property, and Jacobs said Highline Property Advisors will serve as managing partner for the property moving forward.

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leading provider of 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:

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

407-461 3781

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