Alabama Archives - REBusinessOnline

Marcus & Millichap Brokers $26.5M Sale of Multifamily Portfolio in Auburn, Alabama

John Nelson — Tue, 03 Feb 2026 15:42:42 +0000

AUBURN, ALA. — Marcus & Millichap has brokered the $26.5 million sale of a three-property multifamily portfolio in Auburn. The properties include Vue on Dean (61 units constructed in 1977), Vue on Glenn (72 units built in 1974) and Vue on Ross (54 units completed in 1964). Josh Jacobs of Marcus & Millichap’s Birmingham office represented the seller and procured the buyer in the transaction. Both parties requested anonymity. The seller recently invested $3.3 million to upgrade 90 percent of the portfolio’s unit interiors as well as update the properties’ landscaping, painting and re-branding.

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Graham & Co. Negotiates 1.4 MSF Industrial Lease in Montgomery, Alabama

Abby Cox — Mon, 02 Feb 2026 15:06:27 +0000

MONTGOMERY, ALA. — Graham & Co. has negotiated a full-building lease at Air-Port Commerce Center, a 1.4 million-square-foot industrial facility located at 2855 Selma Highway in Montgomery. The former Big Lots Distribution Center — which closed in mid-2025 after the retailer’s bankruptcy — sits on 100 acres and is adjacent to Coca-Cola Bottling Co. United and the Montgomery Intermodal Container Transfer Facility site. Ogden Deaton and John Coleman of Graham & Co., along with Allen Garstecki of JLL, represented the landlord, ARES Management, in the lease negotiations. The tenant was not disclosed.

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Coro Realty Purchases 239,370 SF Industrial Property in Birmingham

John Nelson — Thu, 29 Jan 2026 15:48:25 +0000

BIRMINGHAM, ALA. — Coro Realty has acquired a 239,370-square-foot industrial facility located at 3501 1st Ave. N in Birmingham’s Eastside submarket. Tripp Alexander and Will Canary of Colliers represented Coro Realty in the $13.8 million transaction. Jake Viverette and Will Redding with The Overton Group, along with Edwin Moss and Benjamin Bottcher of JH Berry, represented the undisclosed seller. Bobby Norwood of JLL arranged an undisclosed amount of acquisition financing on behalf of Coro Realty via Seacoast Bank. Originally built in 1965, the property was fully leased at the time of sale to tenants including the U.S. Postal Service, Division 7 Supply and Sara Sells. The infill facility is situated on a nine-acre site near downtown Birmingham and I-20 and features 20 dock-high doors, LED lighting and a rail spur with potential connectivity to an active Norfolk Southern line.

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Dwight Mortgage Trust Provides $88.4M in Loans for Three Southeast Multifamily Assets

John Nelson — Tue, 20 Jan 2026 15:15:54 +0000

TUSCALOOSA, ALA. AND FAYETTEVILLE, N.C. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has closed two loans totaling $88.4 million for the refinancing of three apartment communities in the Southeast. The properties include Mosaic Apartments, a 456-unit community in Tuscaloosa, and two complexes in Fayetteville totaling 312 units: Britt Lake and Woodland Village. Moshe Feiner of Sevenstone Capital worked along with Andrew Tichy of Dwight Mortgage Trust to arrange the five-year, fixed-rate loans on behalf of the borrowers, private high-net-worth investors that used the loan proceeds to refinance existing debt, cover transaction costs and fund interest reserves.

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JLL Income Property Trust Acquires Westbury Square Shopping Center in Huntsville for $32M

Abby Cox — Mon, 12 Jan 2026 14:40:21 +0000

HUNTSVILLE, ALA. — JLL Income Property Trust has acquired Westbury Square, a 115,000-square-foot shopping center located in Huntsville, for $32 million. Tenants at the center, which was fully leased at the time of sale, include T.J. Maxx, Michaels, Stein Mart, Metro Diner, Chicken Salad Chick, Captain D’s, BB&T, Moe’s Southwest Grill, Jenny Craig, Jimmy John’s and Cricket Wireless. Cushman & Wakefield represented the undisclosed seller in the transaction.

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Marcus & Millichap Brokers $5.6M Sale of Apartment Community in Birmingham

John Nelson — Thu, 08 Jan 2026 15:27:34 +0000

BIRMINGHAM, ALA. — Marcus & Millichap has brokered the $5.6 million sale of Pineview Pointe Apartments, a 141-unit community located in Birmingham’s Center Point neighborhood. Josh Jacobs and Lloyd Escue of Marcus & Millichap’s Birmingham office represented the seller, an entity doing business as Pineview Pointe LLC, in the off-market transaction. The buyer was not disclosed. Built in the 1970s, Pineview Pointe features a mix of one- and two-bedroom, garden-style apartments.

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RCP Unveils Plans for $300M Mixed-Use Expansion at MidCity District in Huntsville

John Nelson — Tue, 23 Dec 2025 15:42:15 +0000

HUNTSVILLE, ALA. — RCP Cos. has unveiled plans for MidCity Arts + Innovation, a 12-acre development within the larger $2.2 billion MidCity District in downtown Huntsville. The project represents a $300 million investment and will expand the development’s master plan by three city blocks along Sanderson Road. MidCity Arts + Innovation will be anchored by MidCity Live, a 3,000-seat indoor music venue jointly designed by Matheny Goldmon Architects and Urban Design Associates. RCP will name an operating partner for the venue in early 2026. MidCity Live will join The Orion Amphitheater, an existing 8,000-seat music venue within MidCity District. Other components of the expansion will include a new location for The Camp, an outdoor venue and community gathering space; two hotels, including a 200-room, music-branded hotel; a tech-centric office campus developed by the Apollo Coalition nonprofit; and approximately 60,000 square feet of new retail and entertainment space.

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Tariffs Are Moving the Needle for Manufacturing, Distribution Demand on the I-85 Industrial Corridor

John Nelson — Tue, 23 Dec 2025 12:31:00 +0000

More than seven months have passed since Liberation Day, where the Trump administration declared a sweeping package of tariffs for foreign trade partners and specific commodities, including steel and aluminum. Since the announcement in early April, there has been a boon in the amount of multibillion-dollar advanced manufacturing, life sciences, semiconductor and data center investment announcements around the country, with the markets along the I-85 Industrial Corridor being no exception. To name a few: Toyota has recently begun production at its $13.9 billion battery plant in Liberty, N.C.; Rivian broke ground on its $5 billion electric vehicle plant near Social Circle, Ga.; JetZero is planning to create 14,500 jobs for an aerospace manufacturing facility in Greensboro, N.C.; Eli Lilly is developing a $5 billion pharmaceutical manufacturing facility in the Richmond suburb of Goochland County, Va.; and Google is developing a trio of data centers in metro Richmond’s Chesterfield County. “We have incredible momentum bringing business back into the United States, which is going to drive industrial growth, particularly in the Southeast,” says Jim Anthony, CEO and founder of APG Companies. “We’re not unionized, we have lower taxes, fewer regulations and lower cost of energy, which is huge factor in site…

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Landmark Properties, Manulife to Develop 825-Bed Student Housing Project Near Auburn University

Abby Cox — Mon, 15 Dec 2025 14:51:37 +0000

AUBURN, ALA. — A joint venture between Landmark Properties and Manulife Investment Management has acquired a 3.3-acre development site at 141 Wright St. near Auburn University in Alabama. The partnership will soon break ground on The Mark Auburn, an 825-bed student housing community that is expected for completion in fall 2028. The mid-rise development will offer 329 fully furnished units in studio through five-bedroom floorplans. Amenities will include a clubhouse, rooftop swimming pool, Jumbotron, fitness center, sports simulator, study lounge, café, computer labs and grilling areas and fire pits. The community will also offer 853 parking spaces alongside bicycle/scooter storage. The development team for the project includes Peninsula Investments, BKV Group and Landmark Construction.

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CBRE Arranges $57M Refinancing for 422,337 SF Power Retail Center in Birmingham

John Nelson — Thu, 11 Dec 2025 14:33:21 +0000

BIRMINGHAM, ALA. — CBRE has arranged a $57 million loan for the refinancing of Brook Highland Plaza, a 422,337-square-foot power retail center located on 52 acres along U.S. Highway 280 in Birmingham. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan through an undisclosed life insurance company on behalf of the borrower, First National Realty Partners. Brook Highland Plaza was 94.4 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Michaels, Shoe Station and Ashley Home Furniture.

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Marcus & Millichap Brokers $7.5M Sale of Willow Terrace Apartment Community in Troy, Alabama

Abby Cox — Mon, 17 Nov 2025 16:04:06 +0000

TROY, ALA. — Marcus & Millichap has brokered the $7.5 million sale of Willow Terrace, a 128-unit apartment community located in Troy, approximately 47 miles south of Montgomery, Ala. Built in 1974 on 6.5 acres, Willow Terrace includes a mix of one-, two- and three-bedroom floorplans ranging in size from 675 to 1,194 square feet, according to Apartments.com. Amenities at the complex include a swimming pool, fitness center, laundry facilities and onsite property management. Josh Jacobs of Marcus & Millichap represented the seller, an entity doing business as Willow Terrace Apartments LLC, in the transaction. The buyer was not disclosed.

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HDA Leads 325,000 SF Adaptive Reuse Project for Gulf Distributing in Downtown Mobile, Alabama

John Nelson — Wed, 12 Nov 2025 13:48:55 +0000

MOBILE, ALA. — HDA has announced the completion of the new headquarters for Gulf Distributing in downtown Mobile. The project was an adaptive reuse of the vacant Press-Register Building, a 1950s-era printing press, into a 325,000-square-foot beverage distribution facility. HDA’s design included renovating 225,290 square feet of existing space, an 85,040-square-foot warehouse expansion, a new 4,960-square-foot vehicle maintenance facility and a 9,166-square-foot covered cooperage for the production of barrels and tubs. Other members of the project team were not released. Founded in 1973, Gulf Distributing is a beer distributor that operates across Alabama, the Florida Panhandle and Mississippi. The family-owned company employs approximately 1,300 people and partners with more than 140 suppliers.

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Marcus & Millichap Brokers $11M Sale of New Spark by Hilton Hotel in Birmingham

Abby Cox — Thu, 16 Oct 2025 13:33:34 +0000

BIRMINGHAM, ALA. — Marcus & Millichap has brokered the $11 million sale of Spark by Hilton Birmingham Colonnade, a 122-room hotel located at 4300 Colonnade Parkway in Birmingham. The hotel’s amenities include a bagel bar, lounge, indoor swimming pool, onsite market, 24-hour fitness center, pet-friendly rooms and complimentary breakfast. Originally opened in first-quarter 2025, the four-story hotel sits on roughly 2.3 acres. Jack Davis, Joce Messinger, Joseph Simpson and Eric Webster of Marcus & Millichap represented the seller in the transaction. Eddie Greenhalgh was Marcus & Millichap’s broker of record in Alabama. The buyer and seller requested anonymity.

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PHD Hotels Acquires 111-Room Aloft Birmingham Soho Square Hotel in Alabama

John Nelson — Thu, 02 Oct 2025 15:19:11 +0000

HOMEWOOD, ALA. — Opelika, Ala.-based PHD Hotels Inc. has acquired Aloft Birmingham Soho Square, a 111-room hotel located at 1903 29th Ave. S in Homewood, a suburb of Birmingham. An institutional investor sold the hotel for an undisclosed price. Tim Osborne of Hunter Hotel Advisors’ Chattanooga office brokered the transaction. Aloft Birmingham Soho Square is a hospitality component within the Soho Square mixed-use campus and features meeting space, an indoor pool and a 24-hour fitness center, along with Re:fuel, a grab-and-go snack bar, and the W XYZ Bar, which offers craft cocktails and live music.

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Walker & Dunlop Negotiates Sale of 452-Bed Student Housing Community Near Auburn University

John Nelson — Fri, 26 Sep 2025 14:04:03 +0000

AUBURN, ALA. — Walker & Dunlop has negotiated the sale of The French Quarter, a 452-bed student housing community located near Auburn University in Alabama. Built in 1997 and renovated in 2023, the property features New Orleans-inspired architecture and offers 207 units in one-, two-, three- and five-bedroom configurations. Shared amenities include a pool, lounge, student center, café, dog park, community green space and a fitness center. Patrick Chisholm, Brian Malone and William Scott sold the property to Matt Genesio and Collegetown Communities for an undisclosed price. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller in the transaction. Will Baker, William Shell and Mike Shropshire, also with Walker & Dunlop, arranged acquisition financing on behalf of the buyer. The sales price and loan amount were not disclosed.

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Trilogy, Pinnacle Underway on Phase I of Build-to-Rent Development in Huntsville

John Nelson — Mon, 22 Sep 2025 12:33:00 +0000

HUNTSVILLE, ALA. — Trilogy Investment Co. and Pinnacle Partners have completed lot delivery and horizontal construction for Phase I of REV3 at The Celeste, a 172-unit build-to-rent (BTR) townhome community on Plummer Road in Huntsville. The development partnership plans to begin vertical construction in the fourth quarter. Trilogy is funding the project in part with its BTR Opportunity Zone fund, which is focused on developments in the Sun Belt region. REV3 at The Celeste will feature three-bedroom townhomes with 2.5 bathrooms, open-concept layouts, stainless steel appliances, LVP flooring, smart home technology and attached garages. Amenities will include a resort-style pool with a shaded cabana, clubhouse with gathering spaces, fitness center and outdoor grilling areas. Trilogy and Pinnacle plan to begin leasing in the second quarter of 2026 and deliver REV3 at The Celeste in third-quarter 2026.

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Jim Chapman Construction Breaks Ground on 304-Unit Build-to-Rent Project in Opelika, Alabama

John Nelson — Fri, 19 Sep 2025 14:21:46 +0000

OPELIKA, ALA. — Jim Chapman Construction Group has broken ground on Creekside Cottages, a 304-unit build-to-rent (BTR) project at the intersection of Society Hill Road and Gateway Drive in Opelika, about eight miles east of Auburn. The developer is an undisclosed, publicly traded REIT. The general contractor recently finished clearing and grading on the 67.6-acre site and will begin vertical construction in late December. Phase I of Creekside Cottages will comprise 225 attached townhomes, with leasing set to begin in spring or summer 2026. Units will range in size from 1,000 to 1,439 square feet and feature two- and three-bedroom configurations. Each home will include attached garages, vinyl plank flooring, granite countertops, stainless steel appliances and in-unit washers and dryers. Amenities will include gated access, a clubhouse, swimming pool, dog park, sidewalks, streetlights and onsite property management and maintenance teams.

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Oakley Group Buys Flats at East Bay Apartments in Fairhope, Alabama for $49.8M

John Nelson — Thu, 18 Sep 2025 14:01:58 +0000

FAIRHOPE, ALA. — Birmingham, Ala.-based Oakley Group has acquired Flats at East Bay in Fairhope for $49.8 million. Stoa Group was the seller. Craig Hey of Cushman & Wakefield arranged the sale. Oakley has appointed Arlington Properties to manage the 240-unit community, which is located at 9376 Twin Beech Road on the eastern shoreline of Mobile Bay, about 26 miles south of Mobile. Flats at East Bay was completed in 2024 and features 10 three-story buildings with one-, two- and three-bedroom units and amenities such as a resort-style pool with cabanas, a fitness center, dog park, walking trails, grills, coworking space with conference rooms, fire pit and electric vehicle charging stations.

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Matthews Arranges Sale of 97,668 SF Flint’s Crossing Shopping Center in Auburn, Alabama

Abby Cox — Fri, 12 Sep 2025 14:30:10 +0000

AUBURN, ALA. — Matthews Real Estate Investment Services has arranged the sale of Flint’s Crossing, a 97,668-square-foot neighborhood shopping center situated three miles from Auburn University. HomeGoods and Michaels anchor the fully leased center. Other tenants include Panera Bread, The UPS Store, Subway, CiCi’s Pizza, Plato’s Closet, Kumon and uBreakiFix. In addition to the 22,850-square-foot HomeGoods store, which operates at the property on a new 10-year lease, Flint’s Crossing has introduced roughly 15,115 square feet of new tenants since 2022. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the repeat seller, an entity doing business as RECS Flint’s Crossing LLC, in the transaction. The buyer and sales price were not disclosed.

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Burton, Peaceable Street Capital Close $123M Recapitalization of Alabama Shopping Center Portfolio

John Nelson — Wed, 03 Sep 2025 13:48:18 +0000

MOBILE, ALA. — Mobile-based Burton Property Group and Peaceable Street Capital have closed the $123 million recapitalization of a four-property shopping center portfolio in Alabama. The properties include Riviera Square and Foley Square in Foley, Jubilee Square in Daphne and Westwood Plaza in Mobile. The 785,000-square-foot portfolio was 98 percent leased at the time of the recapitalization, details of which were not disclosed. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL arranged the financing on behalf of Burton Property Group, which will use its newfound capital flexibility on its mixed-use projects including the 1,300-acre South Alabama Logistics Park and River Walk Plaza, both in Mobile.

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