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| Mountainside Apartments, Birmingham, AL |
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| Jimmy Adams |
BIRMINGHAM, AL — Multi
Housing Advisors (MHA) has arranged the sale of Mountainside, a 196-unit
apartment community located in Birmingham, Alabama.
Jimmy Adams
and Craig Hey of MHA’s Birmingham
office represented the seller in the transaction. Residential Ventures
purchased the property for $10.3 million.
“Residential Ventures was
able to acquire one of the largest multifamily assets in Birmingham’s
Southside, just south of Downtown and The University of Alabama at Birmingham,”
Adams said.
“The market is currently
experiencing a major economic revival, and the buyer plans to inject
significant capital into the project to continue the value add campaign
currently in place.”
Mountainside was built in
1970 and consists of 196 units, 90 of which were fully renovated in 2015. The
property offers some of the best views of the city from Birmingham’s Red
Mountain.
For a complete copy of the company’s news release,
please contact:
Deborah Rogers
Multi Housing Advisors
404.645.7275
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