Berkadia Closes on 88 Units in Gardendale, AL for $4.1 Million

   

Gardendale Manor, Gardendale, AL

Josh Jacobs

BIRMINGHAM, AL --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated, financed and closed (towards the end of the year) on the sale of two Gardendale apartment communities -- Gardendale Manor with 48 units for $2,200,000 and Gardendale Oaks with 40 units for $1,900,000.

David Oakley, Partner, and Josh Jacobs, Associate, located in the Berkadia Alabama office, negotiated $4.1 million dollar sale of Gardendale Manor and Gardendale Oaks representing the Birmingham based Seller.

A Colorado-based private equity firm purchased all 88 units.

Gardendale Manor, built in 1996, is 100 percent two-bedroom units while Gardendale Oaks, built in 1986, is comprised of 25 percent one-bedroom and 75 percent two-bedroom units. Both garden-style, two-story apartment communities are located in the thriving submarket of Gardendale, Alabama and will be managed by Birmingham’s Highline Property Advisors.

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

David Oakley, Partner, Berkadia – Alabama, 205.918.0785 x1, David.Oakley@berkadia.com

Josh Jacobs, Associate, Berkadia – Alabama, 205.994.2694 x4, Joshua.Jacobs@berkadia.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407.644.4142 lvershelco@aol.com