Wednesday, December 23, 2015

Multi Housing Advisors Brokers $10.3 Million Sale of Apartment Community in Birmingham, AL

Mountainside Apartments, Birmingham, AL

Jimmy Adams
BIRMINGHAM, AL — Multi Housing Advisors (MHA) has arranged the sale of Mountainside, a 196-unit apartment community located in Birmingham, Alabama.

Jimmy Adams and Craig Hey of MHA’s Birmingham office represented the seller in the transaction. Residential Ventures purchased the property for $10.3 million.

“Residential Ventures was able to acquire one of the largest multifamily assets in Birmingham’s Southside, just south of Downtown and The University of Alabama at Birmingham,” Adams said.

“The market is currently experiencing a major economic revival, and the buyer plans to inject significant capital into the project to continue the value add campaign currently in place.”  

Mountainside was built in 1970 and consists of 196 units, 90 of which were fully renovated in 2015. The property offers some of the best views of the city from Birmingham’s Red Mountain.

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

Deborah Rogers
Multi Housing Advisors

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