Tuesday, February 9, 2016

Berkadia Closes on 48 Units for $3 Million in Birmingham, AL

Joshua Jacobs
BIRMINGHAM, AL  --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the sale of Chesterfield, a 48-unit apartment community located in the Highlands district of Birmingham.

Josh Jacobs, Associate and David Oakley, Managing Director in Berkadia’s Alabama office brokered the transaction representing the local Seller, Chesterfield, LLC.    Chesterfield, which was built in 1968, was sold free and clear of any existing debt.

The local Buyer, Manchester Partners, LLC paid $3,000,000 for the two-story garden-style apartment community, or $62,500 per unit, and plans to upgrade and renovate the interiors in the coming year.  

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

Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

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