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| Gardendale Manor, Gardendale, AL |
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| 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
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