Wednesday, January 11, 2017

Berkadia Closes on 375 Apartments in Huntsville, AL for $9.9 Million

(Berkadia provided the name of the wrong buyer to Vershel Communications for this transaction. Vershel Communications then forwarded that erroneous information to Done Deals. The erroneously-named buyer was McCreary Realty Management of Marietta, Ga. That company states:

(“McCreary Realty Management of Marietta, GA has been misidentified as the buyer in this transaction. McCreary has NOT purchased these developments and has NO business interests anywhere in Alabama.
Michael A. McCreary, CPM, MPM
McCreary Realty Management, Inc.”

(Done Deals regrets having published this error.)

David Oakley
 Here is the corrected version of that transaction provided by Berkadia:

BIRMINGHAM, AL --- Berkadia recently negotiated the sale of Hillside Village and Twickenham Village located in Huntsville with a total of 375 apartment units for $9,925,000.00 or $26,396 per unit.

Managing Director David Oakley, Senior Directors David Etchison and David Wilson with the Birmingham office of Berkadia Real Estate Advisors, LLC represented the seller, Huntsville-based Hillside Village, LLC and Twickenham Village, LLC.

Hillside Village, with 223 units is located at 4515 Bonnell Drive, and Twickenham Village with 152 units is located at 5001 Galaxy Way. Both apartment communities were built in 1985.

The buyer, Huntsville-based VCP Twickenham LLC, has plans for exterior and interior renovations.

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 more information on this transaction, please contact:
David Oakley, Managing Director – Alabama, 205.918.0785 x1,

 David Etchison, Senior Director – Alabama, 205.705.3533,

 Larry Vershel or Beth Payan, Larry Vershel Communications, 407.644.4142 

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