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| Jimmy Adams |
BIRMINGHAM, AL — Multi
Housing Advisors (MHA) has arranged the $27.1 million sale of two apartment
communities located in Pensacola, Florida.
The transaction is indicative of
MHA’s continued activity in the market, which has experienced tremendous growth
during recent years.
Jimmy Adams,
who leads MHA’s Birmingham, Alabama, deal team represented Greystone, the
seller, in the transaction. ApexOne purchased the property.
“ApexOne was able to
acquire two very well-located assets in a growing Florida market,” Adams said.
“Their plan is to take the property up another level by further enhancing the
amenity package and unit interiors.”
The two properties,
consisting of 392 units, closed simultaneously. Both properties had 50 percent
of their unit interiors upgraded by the seller, demonstrating the upside in
significant rental premiums.
For a
complete copy of the company’s news release, please contact:
Savannah Duncan
The Wilbert Group
404-343-0870 (O)
404-901-4433 (C)
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