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| David Oakley |
Birmingham, AL – Berkadia
recently negotiated the sale of nine multi-family investment properties over
the past 90 days. The properties, which
are located throughout Alabama, consist of 2,475 units and sold for a combined
$154,060,000.
David Oakley,
managing director of Berkadia’s Alabama office, said that his team negotiated
the sales on behalf of the sellers.
“These deals are a
testament to the dedication of our team and the strength of multi-family market
across the Southeast. We’re grateful for
the opportunity to assist investors and look forward to continuing our
relationships with them,” Oakley said.
The team’s largest sale of
the period – Landmark at Magnolia Glen, a 1,080-unit property on Centennial
Drive in Hoover, sold for $71.5 million to an investment group based in Irvine,
Calif.
Most recently, the team
facilitated the sale of two Center Point communities, Devonshire and Sun
Valley. The communities sold together
for a combined $14.11 million.
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| Royce Emerson |
Other Birmingham area
sales include Inverness Landing, a 322-unit property, which sold for $27.6
million; River Place on the Cahaba, a 213-property, which sold for $17.7
million; Town Park, a 270-unit property, which sold for $15.025 million;
TimberChase, a 94-unit property, which sold for $4.825 million; and Fox Hall, a
36-unit property, which sold for $2.3 million.
In Mobile, Woodland Square, a 128-unit property, for $4 million.
Royce Emerson
and William Parkhurst brokered the
River Place on the Cahaba and the Town Park transactions. Josh
Jacobs brokered the TimberChase and the Devonshire-Sun Valley
transactions.
For a
complete copy of the company’s news release, please contact:
Larry Vershel or Beth
Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com
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