HENDRICKS-BERKADIA BROKERS $14.6M SALES OF THREE APARTMENT COMMUNITIES

BIRMINGHAM, ALA. — Hendricks-Berkadia Real Estate Advisors has arranged the sales of three apartment communities in Alabama totaling $14.6 million. The communities include the 180-unit Chadwick Place in Huntsville, the 160-unit Alpine Village in Hoover and the 27-unit Medford Manor in Fairfield. Dexter, Mo.-based Southeast Holdings purchased Chadwick Place from The Hallmark Cos. of Atlanta for $7.5 million. David Oakley, Hal Warren, Cole Whitaker and Jason Stanton of Hendricks-Berkadia represented The Hallmark Cos. of Atlanta in the transaction. Oakley also represented the seller, Birmingham-based Ruffner Mountain Management in the sale of Alpine Village. Hackensack, N.J.-based Cofinance Inc. purchased the community for $6.5 million while also assuming the existing Fannie Mae loan. David Etchison and Josh Jacobs of Hendricks-Berkadia represented a California-based seller in the sale of Medford Manor. In 2013 alone, the Alabama office of Hendricks-Berkadia brokered the sale of 39 communities spanning more than 9,050 units for approximately $510 million.