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| Terrace31 Apartments, Little Mountain Circle, Pelham, AL |
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| Josh Jacobs |
Birmingham, AL – Berkadia
Real Estate Advisors, one of the nation’s largest and most active multifamily
investment sales companies, recently negotiated the $5.2 million sale price for
Terrace31, a 79-unit apartment community on Little Mountain Circle in Pelham,
Ala.
Josh Jacobs,
investment sales associate at Berkadia along with managing director David Oakley, negotiated the
transaction representing the seller Birmingham-based Four Four Little Mountain,
LLC.
Terrace31 was built in two
phases in 1973 and 1998 and fully repositioned in 2014.
A Birmingham-based
Purchaser paid $65,822 per unit for the property, and Jacobs said Highline
Property Advisors will serve as managing partner for the property moving
forward.
Berkadia, a joint venture
of Berkshire Hathaway and Leucadia National Corporation, is a leading provider
of capital solutions and investment sales advisory and research services for
multifamily and commercial properties.
For a complete copy of the company’s news release,
please contact:
Beth Payan or Larry
Vershel, Larry Vershel Communications, 407-644 4142 or
407-461 3781 lvershelco@aol.com
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