REBusinessOnline

Cushman & Wakefield Brokers $39M Sale of Three-Property Multifamily Portfolio in Mobile

Ashford Place (pictured) was included in the sold portfolio.

MOBILE, ALA. — Cushman & Wakefield has brokered the $39 million sale of a three-property multifamily portfolio located in Mobile. Entities managed by StoneRiver Co. acquired the properties, which include Huntleigh Woods, Southern Oaks and Ashford Place. Jimmy Adams and Craig Hey of Cushman & Wakefield arranged the transaction on behalf of the seller, PEM Real Estate Group. The properties, constructed between 1975 and 1983, total 625 units. Community amenities across the portfolio include dog parks, fitness centers, picnic areas, coffee bars and swimming pools.

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