Hendricks & Partners Negotiates Sale of Cedarbrook Apartments in Hoover, AL for $16,750,000

BIRMINGHAM, AL--- Hendricks & Partners, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the sale of Cedarbrook Apartments, a 320-unit apartment community located in Hoover, Ala. for $16.75 million.

David Oakley (lower right photo), senior investment advisor of Hendricks & Partners Alabama office negotiated the sale representing the seller, Cedarbrook Apartments, LLC, an Alabama limited liability company, based in Birmingham.

Cedarbrook, built in 1972 and renovated in 2010/2011, has a total of 329,980 square feet of rentable living space with one-, two- and three-bedroom apartments.

The buyer was Landmark at Deerfield Glen, LLC, based in Florida, and was represented by Tom Hinton of Hinton Properties.

 For more information, contact:

David Oakley, Senior Investment Advisor, Hendricks & Partners - Alabama, 205.918.0785,  doakley@hpapts.com. 

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.

Gemstone Hotels & Resorts to Manage Maison 140 in Beverly Hills, CA

BEVERLY HILLS, CA and PARK CITY, UT July 26, 2012—Gemstone Hotels & Resorts, a full-service hotel management company that specializes in owning and operating luxury and upscale urban hotels and resorts, today announced the company has assumed management of Maison 140 (top left photo), in Beverly Hills, Calif.  

This 43-room boutique, urban hotel  recently was acquired by the Chadha Family Trust which also owns the nearby Mosaic Hotel.  Gemstone will now manage both hotels.

“Maison 140 is an outstanding addition to Gemstone’s growing collection of ‘one-of-a-kind’ hotels in top destination markets with high barriers to new entry,” said  Thomas Prins (lower right photo), Gemstone principal. 

“With the addition of this lifestyle hotel, we now can meet the needs of a different demographic: the younger, Beverly Hills visitor who is looking to sample all that the city has to offer, from a convenient, stylish hotel.”

For a complete copy of the company’s news release, please contact:

Chris Daly, Lauralee Dobbins/media

(703) 435-6293

Lauralee@dalygray.com