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| Sutton Place Apartments, Mobile, AL |
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| Jimmy Adams |
BIRMINGHAM, AL (Feb. 1,
2016) — Multi Housing Advisors (MHA) has arranged the $8.1 million sale of Sutton Place, a 208-unit apartment
community located in Mobile, Alabama.
Jimmy Adams and Craig Hey of MHA’s Birmingham office represented the seller,
Sutton Place Operating Company, LLC, in the transaction. Springer Capital and
Brookside Properties purchased the property.
“Sutton Place is located
in a premier area of Mobile, at the corner of University and Grelot, just south
of the Airport Boulevard corridor and the University of South Alabama,” Adams
said. “This submarket has multiple properties undergoing interior and exterior
upgrades due to the potential for rental upside.”
Sutton Place, a
garden-style property containing 208 units, sits within a five-mile radius of a
new Publix development, Bel Air Mall, the new Whole Foods, Providence Hospital,
USA, and other growing economic drivers.
For a
complete copy of the company’s news release, please contact:
Deborah Rogers
Multi Housing Advisors
404.645.7275
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