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| Bell Station Apartments, Montgomery, AL |
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| Jimmy Adams |
MONTGOMERY, AL (Feb. 26,
2014) — Multi Housing Advisors (MHA) has brokered the sale of the 224-unit Bell Station and the 28-unit Watchman Court,
located at 3201 and 3301 Watchman Dr., respectively, in Montgomery, Ala.
Combined, the contiguous properties were 93 percent leased at the
time of the sale.
Jimmy Adams of MHA’s
Birmingham, Ala., office represented the sellers, Tritex Real Esate Advisors
and Watchman Court, Ltd., and was the only broker involved in the deal. EBSCO
Watchman Dr. LLC was the buyer.
“The sale of Watchman Court
and Bell Station shows that investors are more receptive today to acquiring
assets in non-core markets like Montgomery,” Adams said. “We expect to see a
significant uptick in sales this year throughout Alabama and Mississippi.”
Chad Hagwood of Beech
Street Capital, LLC, arranged a Freddie Mac loan for the buyer.
This is the first
transaction closed since Beech Street Capital and MHA formed their alliance.
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| Chad Hagwood |
Through their agreement,
Beech Street Capital’s clients gain direct access to local broker intelligence,
and MHA’s clients gain direct access to capital markets, providing a more
efficient transaction process.
The goal is to help
investors use that intelligence to identify desirable properties and, more
importantly, to provide the well-integrated transactional and financial support
investors need to seize these opportunities quickly.
Multi Housing Advisors
(MHA) has become known as a solid leader in the multi housing industry. The
company, founded in 2002, was established to bring a focused brokerage platform
to growing markets throughout the Southeast.
Since that time, MHA has
created value for clients in virtually every sector of the multi-housing
market.
The MHA team works hard to
build and enhance value by leveraging strong attention to detail, accessing an
active investor base and capitalizing on its vast market knowledge in ways that
benefit every aspect of the transaction process.
For a complete copy of the company’s news release, please
contact:
Stephen Ursery
The Wilbert Group
404-549-7150 (O)
404-405-2354 (C)
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