Alabama

Atlas Senior Living, Salta Capital Acquire Two Properties in Alabama and Tennessee

by Julia Sanders January 18, 2022

ATHENS, ALA. AND SPRING HILL, TENN. — Birmingham-based Atlas Senior Living and Salta Capital have acquired two new senior living communities, The Goldton at Athens in Athens and The Goldton at Spring Hill in Spring Hill, bringing their total number of properties in their owned portfolio to 32. The seller and sales price were not disclosed. Atlas will be the owner-operator of the communities, which will be rebranded. Located at 22171 Traditions Way, The Goldton at Athens totals 75,824 square feet, comprising 12 independent living residences and 72 assisted living residences. Located at 3056 Miles Johnson Parkway, The Goldton at Spring Hill totals 66,395 square feet comprising 63 assisted living residences and 16 memory care residences.

January 18, 2022

Acquisitions Alabama Retail Southeast

SRS Brokers $4.5M Sale of Shopping Center in Valley, Alabama

by Julia Sanders January 17, 2022

VALLEY, ALA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $4.5 million sale of Shops at Valley, a 28,000-square-foot shopping center in Valley. Boris Shilkrot of SRS represented the seller, OSCI Properties, in the transaction. The buyer, Prudent Growth Partners LLC, was self-represented in the transaction. The shopping center is shadow-anchored by a Walmart Supercenter and fully occupied by tenants including Ace Hardware, Workout Anytime, H&R Block, T-Mobile and Advance America. Located along the Georgia and Alabama state lines, the property is situated 26 miles from Auburn, Ala., and 31.8 miles from Columbus, Ga.

January 17, 2022

Acquisitions Alabama Industrial Southeast

Highline Real Estate Partners, GCP Purchase 604,000 SF Logistics Center in Vance, Alabama

by Julia Sanders January 5, 2022

VANCE, ALA. — Highline Real Estate Partners and Growth Capital Partners have purchased Vance Logistics Center, a 604,000-square-foot, cross-dock logistics facility in Vance. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the sellers, Niantic Partners and Rothschild Capital Partners, in the transaction. Mark Byers of Cushman & Wakefield provided local leasing support. The sales price was $55 million. Built in 2004, Vance Logistics Center was fully leased to two tenants, ARD Logistics and BLG Logistics, at the time of sale. Located at 10095 Brose Drive, the facility is situated near a Mercedes-Benz Assembly Plant and is located near Interstate 20, Interstate 59 and University of Alabama, Birmingham. The property’s features include Class A tilt-wall construction, LED lighting with motion sensors, 116 dock-high doors, loading docks on three sides of the building, plenty of onsite employee and trailer parking and a guard house.

January 5, 2022

Acquisitions Alabama Multifamily Southeast

SVN Multifamily Arranges $25.3M Sale of Apartment Property in Huntsville

by Julia Sanders January 5, 2022

HUNTSVILLE, ALA. — Huntsville-based SVN Multifamily LLC has arranged the $25.3 million sale of Country Club Apartments, a 200-unit multifamily property located at 1000 Airport Road in southeast Huntsville. The buyer, Houston-based Truepoint Capital, plans to invest more than $2 million into the property, including renovating the units with vinyl plank flooring, upgraded appliances, cabinetry and repainting exteriors. Averbuch Enterprises was the seller. Built along Airport Road on about 22 acres in 1965, Country Club Apartments offers one- and two-bedroom floorplans. Community amenities include a fitness center, onsite property management, picnic area and grills, emergency maintenance, pool, arts and crafts room, three laundry rooms, clubroom and a tennis court. The property was fully occupied at the time of sale.

January 5, 2022

Acquisitions Alabama Retail Southeast

Stan Johnson Co. Arranges $3.2M Sale of Shopping Center in Enterprise, Alabama

by Julia Sanders December 17, 2021

ENTERPRISE, ALA. — Stan Johnson Co. has arranged the sale of a 54,500-square-foot shopping center located at 913 Rucker Blvd. in Enterprise. Brett Puckett of Stan Johnson Co. represented the seller, a Mississippi-based private investor, in the transaction. The buyer, an individual investor based in New Hampshire, acquired the property for $3.2 million. The shopping center is situated on nine acres about 6.4 miles from Enterprise Municipal Airport and nine miles west of Fort Rucker. Anchored by Planet Fitness, the shopping center was 78 percent occupied at the time of sale to seven additional tenants. The property was built in 1973.

December 17, 2021

Acquisitions Alabama Multifamily Southeast

OG Capital Purchases Apartment Property in Metro Huntsville for $9.2M

by Julia Sanders December 1, 2021

ATHENS, ALA. — Birmingham-based OG Capital LLC has acquired Camelot Apartments, a 112-unit multifamily community in Athens, about 26 miles west from Huntsville. Wade Lowry at The Kirkland Co. represented the seller, Tesco Development. The sales price was $9.2 million. Built in 1984, Camelot Apartments offers one-, two- and three-bedroom units ranging in size from 600 to 1,600 square feet. Unit features include balconies and private patios, double stainless steel sinks and washer and dryer connections. The property was 98 percent occupied at the time of sale. Located at 600 Camelot Drive, the property is situated 1.5 miles from Athens State University, 29.3 miles from the U.S. Space & Rocket Center in Huntsville and 24.4 miles from Huntsville International Airport. OG Capital plans to rebrand the community as Magnolia Row and will perform more than $2 million in extensive renovations of the entire property, including complete interior upgrades and common area upgrades. As part of the interior renovations, OG plans to add new appliances, paint, countertops, hardware, lighting and plumbing fixtures. Common area improvements will include renovations to the clubhouse and pool deck, new exterior paint, upgraded picnic, grill and mail station areas, new dog park and additional privacy fences. …

December 1, 2021

Acquisitions Alabama Office Southeast

Fairway, Pope & Land Acquire Brookwood Office Center in Birmingham for $55M

by Julia Sanders November 17, 2021

BIRMINGHAM, ALA. — A partnership between Birmingham-based Fairway Investments LLC and Atlanta-based Pope & Land Enterprises Inc. has acquired Brookwood Office Center, an office building located in Birmingham spanning nearly 170,000 square feet. Atlanta-based Preferred Apartment Communities Inc. sold the property to the partnership for $55 million. Built in 2007, Brookwood Office Center is fully-occupied and is anchored by Kinder Morgan, a Houston-based energy infrastructure company. Other tenants include Surgical Care Affiliates, an outpatient surgery provider; Merrill Lynch, a financial services firm; and PricewaterhouseCooper (PwC), a financial consulting firm. The property also houses two storefronts including O’Henry’s Coffees and JoS.A.Bank. The property has 896 total parking spots. Colliers will retain property management and leasing under the new ownership. Located at 569 Brookwood Village, the office building is situated adjacent to the Brookwood Village Mall and Macy’s. The property is also located near retailers such as The Fresh Market grocery store, Verizon Wireless, Target, Dunkin’ and Five Guys. Fairway Investments and Pope & Land have worked together for more than 20 years on projects to develop and enhance commercial real estate throughout the Southeast.

November 17, 2021

Acquisitions Alabama Multifamily Southeast

Cushman & Wakefield Arranges $67.2M Sale of Apartment Community in Madison, Alabama

by Julia Sanders November 16, 2021

MADISON, ALA. — Cushman & Wakefield has arranged the $67.2 million sale of The Alexandria, a 258-unit apartment community located in Madison. Andrew Brown, Craig Hey and Jimmy Adams of Cushman & Wakefield represented the seller, Florence, Ala.-based Bobo Development Group, in the transaction. The buyer was not disclosed. Built in 2021, The Alexandria offers one-, two- and three-bedroom floorplans with a unit size range of 654 to 1,356 square feet. The units feature in-unit washers and dryers, storage units, double vanities, granite countertops, stainless steel appliances, tile floors, walk-in closets and a balcony and deck. Community amenities include a car wash, cardio and yoga rooms, clubroom with kitchen, coworking business center, CrossFit center, dog grooming facility, bark park, electric car chargers, enclosed garages, package lockers and a swimming pool with poolside grilling area. The monthly rent ranges from $1,135 to $1,770, according to Apartments.com. Located at 1028 Balch Road, The Alexandria is situated off Highway 72. The property is 6.9 miles from Oakwood University, and 0.3 miles from the Madison Hospital.

November 16, 2021

Alabama Development Multifamily Southeast

Kalikow, EYC Open Anthem Luxury Rental Homes in Huntsville

by Julia Sanders November 16, 2021

HUNTSVILLE, ALA. — Westbury, N.Y.-based The Kalikow Group and EYC Cos., which has offices in Charleston and Raleigh, has opened Anthem Luxury Rental Homes, a multifamily community in Huntsville. Anthem offers single-family cottages with one-, two- and three-bedroom floorplans that include private porches, backyards and two-car garages. The property also includes apartments with one-, two- and three-bedroom units that include granite countertops, side-by-side refrigerators and vinyl plank flooring. The property also offers options for environmental control such as UV air purifiers and Wi-Fi thermostats, as well as keyless entry, valet trash and Google Fiber internet in every unit. Community amenities include a 5,590-square-foot clubhouse, indoor and outdoor social club with kitchen and lounges, a 1,000-square-foot fitness center, two heated saltwater pools, 24/7 package locker system, private micro-offices and a conference room. Located at 740 Plummer Road, the property is situated seen miles from downtown Huntsville, 7.3 miles from Alabama A&M University, 1.8 miles from Oakwood University and 5.8 miles from the U.S. Space & Rocket Center. The property is also located near several retailers and restaurants such as Publix, Target and Best Buy.

November 16, 2021

Alabama Development Loans Multifamily Southeast Student Housing

Ready Capital Closes $15M Loan for Student Housing Acquisition, Conversion in Birmingham

by Julia Sanders November 16, 2021

BIRMINGHAM, ALA. — Ready Capital has closed a $15 million loan for the acquisition, conversion, renovation and stabilization of an unnamed, 176-unit student housing property in Birmingham. The undisclosed sponsor plans to transform the property from student housing to traditional multifamily through a rebranding and renovation program. The non-recourse, interest-only, floating-rate loan features a 36-month term, two extension options and is inclusive of a facility to provide future funding for capital expenditures and interest shortfalls.

November 16, 2021

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