REBusinessOnline

Preiss, JV Partner Acquire 600-Bed Student Housing Community Near Auburn University

AUBURN, ALA. — A joint venture between The Preiss Co. and a private equity real estate fund advised by Crow Holdings Capital has acquired a 600-bed, cottage-style student housing community from Aspen Heights, a student housing developer based in Austin, Texas. The sales price was not disclosed. The community — rebranded The Collective at Auburn — serves students attending Auburn University in Alabama. Capital improvements are planned for the property, including a complete redesign of its …

Knighthead Funding Provides $27.3M Construction Loan for Multifamily Community in Metro Huntsville

MADISON, ALA. — Knighthead Funding LLC has provided a $27.3 million construction loan to Chase Creek Holdings for the development of The Views at Chase Creek in Madison . The non-recourse loan has a 24-month term. Upon completion, The Views at Chase Creek will offer 228 one-, two- and three-bedroom floor plans. The borrower/developer expects to deliver the property, which will comprise 10 two-story buildings, in the second quarter of 2022. Unit interiors will feature stainless steel …

Russell Brands Sells Former 891,000 SF Manufacturing Plant Near Montgomery

WETUMPKA, ALA. — Russell Brands LLC has sold its former manufacturing facility in Wetumpka. An affiliate of Phoenix Investors acquired the 891,000-square-foot building for an undisclosed price. Prior to closing the plant in 2013, Russell Brands manufactured sports equipment and clothing at the site, marketing its products under many brands and subsidiaries, including Russell Athletic and Spalding. The property spans 102 acres and features 41-foot clear heights, 100 slots for trailer storage, …

The Opus Group, McKinney Fund Deliver 520-Bed Student Housing Community Near UAB

BIRMINGHAM, ALA. — The Opus Group and The McKinney Fund have delivered Ascend Five Points South, a 520-bed student housing community near the University of Alabama at Birmingham (UAB). The property offers studio to four-bedroom floor plans with rents starting at $739 per month. Communal amenities include a pool, fitness center, study rooms and a spa. The asset is situated at 1001 20th St. S., adjacent to the UAB campus. The design team for Ascend Five Points South included Rabren General …

Lexerd Capital Acquires 152-Unit Multifamily Community in Birmingham

BIRMINGHAM, ALA. — Lexerd Capital Management LLC has acquired Emerald Pointe, a 152-unit multifamily community in Birmingham, through one of its funds. The property comprises 21 two- and three-story buildings offering one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, pool, sundeck, picnic area, playground and an onsite childcare facility. The asset is situated at 2149 Emerald Pointe Drive, 11 miles south of downtown Birmingham. The seller and sales price were …

EGS to Develop 67,174 SF Industrial Facility in Birmingham for Ferguson Enterprises

BIRMINGHAM, ALA. — EGS Commercial Real Estate Inc. will develop a 67,174-square-foot build-to-suit industrial facility in Birmingham. Ferguson Enterprises LLC, a distributor of commercial and residential plumbing supplies, will occupy the property upon completion. The developer expects to commence construction in December and plans to deliver the asset 12 months later. The project includes approximately 15,000 square feet for offices and customer pickup, as well as nearly 2.5 acres of paved …

Aptitude Development Breaks Ground on 409-Bed Student Housing Community Near UAB in Birmingham

BIRMINGHAM, ALA. — Elmwood Park, N.J.-based Aptitude Development has broken ground on The Marshall Birmingham, a 409-bed student housing community located near the University of Alabama at Birmingham (UAB). The 200,000-square-foot, seven-story building will feature shared amenities including a fitness center, resident lounges, breakout areas, open-air social space, courtyards and a pool. Construction is expected to be completed in summer 2022. The design team comprises Stone Construction, …

Chase Properties Acquires 183,000 SF Retail Center in Dothan, Alabama

DOTHAN, ALA. — Chase Properties has acquired Shops on the Circle, a 183,000-square-foot retail property in Dothan. TJ Maxx, Big Lots, PetSmart, Five Below and Old Navy anchor the center. The seller and sales price were not disclosed. Shops on the Circle is located at 3500 Ross Clark Circle, three miles northwest of downtown Dothan. Beachwood, Ohio-based Chase Properties says that despite COVID-19, the sale closed on

Sanders Trust Sells Medical Office Portfolio for $240M

BIRMINGHAM, ALA. — The Sanders Trust has sold a portfolio of 11 medical office buildings and inpatient rehabilitation facilities for $240 million. The assets total 474,100 square feet and are located across eight states: Texas, Indiana, Ohio, Pennsylvania, Maryland, Georgia, Mississippi and Iowa. The names of the individual properties were not disclosed. Harrison Street was Sanders Trust's joint venture partner for nine of the 11 properties. The assets were purchased in the past three and a …

Daniel Corp. Breaks Ground on 144,000 SF Medical Office Building in Birmingham

BIRMINGHAM, ALA. — Daniel Corp. has broken ground on Grandview Medical Plaza II, a four-story, 144,000-square-foot medical office building in Birmingham. White Plains, N.Y.-based Seavest Healthcare Properties is the developer and owner. Grandview Medical Plaza II is situated next to Grandview Medical Plaza I, an eight-story, 208,000-square-foot building that is also owned by Seavest. Grandview Medical Plaza II will be situated within the 103-acre Cahaba Center at Grandview campus, which is …

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