Carter Multifamily Acquires Apartment Complex in Metro Birmingham for $26.7M
HOOVER, ALA. — Carter Multifamily has acquired Summerchase at Riverchase, a 240-unit apartment complex in Hoover for $26.7 million. The asset comprises 16 two-story buildings spanning 24.7 acres. The property offers one- and two-bedroom floor plans. Communal amenities include a clubhouse, pool, sundeck, fitness center, tennis courts and two dog parks. The complex is located at 100 Summerchase Drive, 15 miles south of downtown Birmingham. The Birmingham-based buyer plans to upgrade the amenities package, as well as renovate unit interiors and exteriors. Further details and timeline of the renovations were not disclosed. Jimmy Adams and Andrew Brown of Cushman & Wakefield represented the seller, TriBridge Residential, in the transaction.